Expert Series: Why Insurance should be part of your financial plan
September 22, 2023
Commentary – Fourth Quarter 2023
February 21, 2024INSIGHTS
Commentary - Third Quarter 2023
The US economy experienced a strong rebound in the third quarter, with real gross domestic product growing at an annual rate of 4.9%. This robust performance suggests the US economy is on a solid footing, even if temporarily, despite ongoing concerns about inflation and restrictive interest rates.
Inflation remains a focal point in the US, and in most parts of the world, with consumer spending being the main driver of this continued growth. However, cracks are emerging in larger swaths of economic data.
Quarterly Recap
The global economy continued to face a number of uncertainties including high inflation, elevated interest rates, and the ongoing war in Ukraine. These factors were headwinds to economic activity, while strong labor markets and robust corporate profits were positive. Inflation readings, which have recently reached levels not seen in 40 years, remain elevated but are down substantially from their highs. The Federal Reserve is ready to raise interest rates as needed in an effort to bring inflation back toward the long run target of 2%.
The focus remained firmly on the Federal Reserve ("Fed") and the trajectory of interest rates during the quarter. The first two months of the quarter were relatively benign as most of Wall Street took their final vacations to close out the summer.
Eamon Capital Management, LLC (“Eamon”) is a registered investment advisor offering advisory services in the State of Pennsylvania and in other jurisdictions where exempted. Registration does not imply a certain level of skill or training.
This communication is for informational purposes only and is not intended as tax, accounting or legal advice, as an offer or solicitation of an offer to buy or sell, or as an endorsement of any company, security, fund, or other securities or non-securities offering. This communication should not be relied upon as the sole factor in an investment making decision.
Past performance is no indication of future results. Investment in securities involves significant risk and has the potential for partial or complete loss of funds invested. It should not be assumed that any recommendations made will be profitable or equal the performance noted in this publication.
The information herein is provided “AS IS” and without warranties of any kind either express or implied. To the fullest extent permissible pursuant to applicable laws, Eamon Capital Management, LLC (referred to as “Eamon”) disclaims all warranties, express or implied, including, but not limited to, implied warranties of merchantability, non-infringement, and suitability for a particular purpose.
All opinions and estimates constitute Eamon’s judgement as of the date of this communication and are subject to change without notice. Eamon does not warrant that the information will be free from error. The information should not be relied upon for purposes of transacting securities or other investments. Your use of the information is at your sole risk. Under no circumstances shall Eamon be liable for any direct, indirect, special or consequential damages that result from the use of, or the inability to use, the information provided herein, even if Eamon or a Eamon authorized representative has been advised of the possibility of such damages. Information contained herein should not be considered a solicitation to buy, an offer to sell, or a recommendation of any security in any jurisdiction where such offer, solicitation, or recommendation would be unlawful or unauthorized.