In this webcast panel discussion, we’ll share our insights and observations on the markets and economy. Highlights from the conversation include:
- Economic Growth Volatility: The U.S. economy grew at 3% in the second quarter, but the average growth rate for the first half of the year is closer to 1.5%, reflecting ongoing volatility due to tariff-related inventory adjustments.
- Persistent Inflation Pressures: Inflation remains sticky at around 2.5-3%, with potential wage pressures due to constrained labor supply, and companies are still figuring out how to handle the impact of tariffs on costs and pricing.
- Tax Bill Uncertainty: The new tax bill may provide some corporate benefits in R&D and depreciation, but its impact on consumer spending and federal debt levels remains uncertain.
- Earnings Season Resilience: The latest earnings season has shown resilience, with both large and small-cap companies performing better than expected.
- AI Transformational Potential: AI is seen as a transformational technology with significant potential for productivity gains, but widespread adoption and its impact on various industries are still in the early stages.
Presented by
- Julie Biel, CFA, Chief Market Strategist
- Kim Friedricks, Managing Director, Fixed Income
- Andrew Grant, Director of Manager Research
The event was moderated by Spuds Powell, Managing Director.