January 2022 Commentary A Transition Year
While the world remained tense over the ongoing pandemic, the stock market did not skip a beat in 2021.
Slower Growth + Tighter Fed = Still Okay
In the aftermath of the pandemic, both the economy and financial markets continue to strengthen.
An Ongoing Recovery
Twelve months later, financial markets have recovered, and the economy appears to be on track. Some aspects of the economy are still struggling, but the stock market has hit new highs.
January 2021 Outlook Favorable Tradewinds
Variable conditions are applicable in both the economy and stock market; just because the winds are favorable does not mean that an occasional storm will not appear.
The New EPS: Election + Pandemic + Stimulus
Heightened uncertainty is a drag on stocks, and the emotions surrounding an election can be quite strong.
The Federal Reserve has a big challenge: Tame a surge in inflation that reached levels not seen in four decades without pushing the economy into recession.