While new COVID-19 cases spiked over the summer, we have seen recent improvements. New cases and hospitalizations have trended down for four consecutive weeks since peaking in early September. Meanwhile, global supply chains that were severely impacted by COVID-19, continue to work through issues that have caused more than 50 container ships to sit idle outside of West Coast ports. When and how this supply-chain issue gets resolved will go a long way in calming inflation fears.
All this and more in the third-quarter 2021 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.