| May 2023
Safer Bridges (a mid-year update)
By Deron T. McCoy, CFA®, CFP®, CAIA®
Chief Investment Officer
At the start of 2023, we opined that the main risk from last year (inflation) was in the rear-view mirror, but we also warned that new risks were on the horizon (recession). Five months later, has anything changed?
First, let’s analyze and update the risks around inflation. The December print (posted in early January) came in at 6.45% and the latest print (the April figure posted in early May) came in at 4.96%. While still higher than the Fed’s target rate, the path is clearly to the downside. And we believe this should continue. Why? more