June 2023

Happy June! The markets are breathing a sigh of relief with the passage of the federal debt ceiling legislation waiving the debt ceiling until January 2025. In some ways, this is a major accomplishment, but in another way, this just allows us to focus on underlying economic growth and corporate earnings. Corporate earnings have declined for two quarters in a row (-2.0 in Q4 2022 and -5.1 in Q1 2023) and real gross domestic income is expected to decline for two quarters in a row as well. No one has declared a recession, but a slowdown has begun. And a slowdown can occur without a recession. But as consumers draw down savings and corporations stretch to become more lean, the risk of a recession grows. Until then, enjoy the start of summer with loved ones and friends!


Education and Earnings

SECURE 2.0 Act Expands Early Withdrawal Exceptions

Why Buy Life Insurance During Unsettled Economic Times?

As Your Parents Age, Help Them Protect Their Finances

Click To Read GWM Newsletter – June 2023