The shift to caution that I discussed in my previous emails is starting to occur. Equity markets slid this week as concerns about the outlook for the U.S. economy moved to the
foreground. Markets continued to be pushed and pulled by the conflicting forces of unprecedented monetary and fiscal stimulus versus difficult underlying economic conditions and staggering job loss. Here's what you need to know from the week that was.
Interest Rates Not Going Negative
Federal Reserve chairman Jay Powell pushed back on the prospect of negative interest rates. The Fed chairman will be on 60 minutes this evening and his comments could potentially move markets on Monday.
Cases Not Spiking But Caution Still Necessary
Health Secretary Azar delivered some positive news this morning saying "We are seeing that in places that are opening, we're not seeing this spike in cases." Though, Dr. Anthony Fauci took a more cautious tone warning states against reopening economies too soon.
Stephen Caruso is a Senior Wealth Manager at Laurel Wealth Management and here to help at any time. If you would like to schedule a financial consultation phone appointment. I have included a link to my calendar below and you can self schedule.