Happy New Year to our clients and friends!
At the recording of this, our top topics were the broad market and economy. By the end of the day, the US Federal Reserve (the Fed) released their December minutes reporting on their plans for 2022. They predicted they would raise interest rates “sooner or at a faster pace than participants had earlier anticipated.” The Markets understood these notes to mean that the Fed would tighten financial conditions and cool the economy faster than expected. As is typical, the market sold off dramatically January 5th.
However, the Fed is communicating well and has done an excellent job of managing a “man-made” global recession due to a the global pandemic. The Market can anticipate what the Fed is planning due to their communication. Of course, “the Market” is made up of millions of people with “100s of millions” of opinions. So, the short-term action can be volatile. Yet, we feel confident in our portfolio construction and believe these will serve you well.
In my update, I closed with a question: what are your financial goals for 2022? Your financial goals are our financial tasks. Most of the time, goals are reached with great planning and discipline. I know that is not everyone’s favorite idea. We all wish the Markets would give us magical returns so that we could spend any amount of money we want. But that is not reality. Excellent planning and great discipline, in my opinion, are the most stable and predict way to get results. Have you told your financial advisor your goals? Please do so, and we will work hard to help you achieve these results.
Happy New Year & God Bless,
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