Monthly Note

Hello!

Back to school and fall is just around the corner.  I hope everyone had a good summer.

Markets are about flat for August.  We had a great spike in growth early in the month, but a substantial drop in the last few weeks has wiped that out completely.  Fortunately, we aren’t as low as we were back in June.

The Fed is determined to ensure inflation is beaten long term and that will most likely bring pain to the markets over the near term.  However, that is important for the long-term health of the markets and your accounts.  I’d rather see long term policies than short term efforts to artificially prop up the markets.

Most other data is about what we expected.  Inflation seems to have turned the corner and is trending lower.  Unemployment rates continue at historical lows, and consumer spending while lower, hasn’t fallen off a cliff.  The housing market, despite high interest rates, is proving resilient.  All good signs that the long-term health of the economy is surprisingly robust.  We just need to be patient.

All things considered August was a bit of a mixed bag.  No real improvement in the markets, but most of the economic indicators are holding steady.

Opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. All performance referenced is historical and is no guarantee of future results. The economic forecasts set forth in this material may not develop as predicted and there can be no guarantee that strategies promoted will be successful. Because of their narrow focus, investments concentrated in certain sectors or industries will be subject to greater volatility and specific risks compared with investing more broadly across many sectors, industries and companies.