Inflation remains the biggest concern hanging over markets with headline inflation reaching a 40-year high; this has created a tough environment for bond investors and the Fed has indicated they will do “whatever it takes” to combat inflation. On the economic front, the economy remains vibrant with low unemployment, record open jobs, rising wages, and the strongest real growth in many years. The Fed, which has begun to raise rates, has caused many to wonder whether value stocks are making a comeback. All that and more in this quarter’s edition of MarketWise!
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The Fed took center stage this week with its FOMC meeting, where committee members announced a 25-bps rate hike in their latest policy decision. What's intriguing is the swift shift in the narrative on what the Fed might or might not do.
Savant Wealth Management's Chief Investment Officer, Phil Huber, discusses the recent bank failures of Silicon Valley Bank and Signature Bank, and provides some context around what consumers should consider when making choices about their liquid assets.
The sudden and dramatic downfall of Silicon Valley Bank led to a surge of withdrawals. In response, the FDIC swiftly established the Deposit Insurance National Bank of Santa Clara, and transferred all deposits from the defunct bank into it. Ultimately, the FDIC's goal is to protect depositors and prevent any damage to the broader economy.