Happy February! The U.S. economy continues to expand, growing 3.3 percent in Q4 2023, and 2.5 percent for all of 2023. The economy added 353,000 jobs in January on top of 3 million jobs for all of 2023. In addition, consumer confidence as measured by the University of Michigan sentiment survey increased to its highest level since July 2021. The difficulty in the near term is that the Federal Reserve expects to cut rates three times in 2024, but they are less inclined to do so if the economy is already running on all cylinders. We anticipate further market volatility because of higher interest rates for longer, but at least it is a good problem (for now). Too much growth! I hope you have the opportunity to enjoy the remaining days of winter with family and friends.
All the Best, Jon Gauthier, President, GWM
If you are not connected to GWM on LinkedIn, request a link at: Linkedin.com/in/jon-gauthier-cfp/. You can also catch up on our latest activities at our Web site, www.gauthierwm.com.
Topics:
Saving Less? You’re Not Alone
Key Retirement and Tax Numbers for 2024
How Savers and Spenders Can Meet in the Middle
The Federal Reserve’s Key Meeting Dates in 2024