Confidence that the U.S. economy and much of the rest of the global economy had avoided central bank-induced pain remained high during the first quarter. Consensus among strategists and economists on Wall Street is that the Federal Reserve (Fed) has pulled off the elusive soft landing, with more than a few even suggesting there wasn’t much of a landing at all. While economies slowed around the globe and geopolitical events remained top of mind, central bankers appeared close to declaring victory over the inflation that has ravaged the landscape since the pandemic. While more recent data suggests that the “last mile” of the inflation fight will be bumpy, the Fed continues to signal that cuts are coming later this year. Most risk markets have rejoiced at the Goldilocks environment of slowing inflation, low unemployment, resilient earnings, and economic growth that has outperformed expectations.
Investment Partner
The commentary is the opinion of the subadviser. This material has been prepared using sources of information generally believed to be reliable; however, its accuracy is not guaranteed. Opinions represented are subject to change and should not be considered investment advice or an offer of securities.
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