Still some complications while the economic restart continues to broaden
- As we enter the fourth quarter, Real GDP has now recovered to the output levels from the fourth quarter of 2019 and is on track to return to the 20-year trend growth that preceded the pandemic. – Dr. David Kelly, Chief Strategist, JP Morgan
- Complications within global supply chains are likely to continue for longer than anticipated, largely due to the surge in the Delta variant. As a result, we may not be out of the inflation woods yet. Though we are confident upward pressures will subside as supply chain woes ease, we expect some degree of permanence to inflation relative to pre-pandemic levels. – Equities Investment Council, Nuveen
- The powerful economic restart is broadening, with Europe and other major economies catching up with the U.S. We expect a higher inflation regime in the medium term – with a more muted monetary response than in the past. – BlackRock Investment Institute
As always, we continue to believe that one’s circumstances and risk profile should determine the appropriate mix of investments, and not media headlines. Please contact us if you ever have any questions or concerns about your accounts or any news you hear.
Past performance may not be indicative of future results. Therefore, no current or prospective client should assume that the future performance of any specific investment, asset class, or investment strategy (including the investments and/or investment strategies recommended by the adviser), will be profitable or equal to past performance levels. Information in this commentary is gleaned from third party sources, and while believed to be reliable, is not independently verified.