June 10, 2022Topics shared in this publication are:U.S. inflation on a year-over-year basis is at the highest in four decades due to COVID-19 induced spending on goods, supply chain issues, fiscal stimulus from the government and very accommodative monetary policy from the Federal Reserve.We expect a deceleration in inflation in 2022, due to several factors.
June 3, 2022Topics shared in this publication are:Job growth remains very strong at roughly 500,000 over the past 6 months. The leisure & hospitality sector remains at the deepest deficit relative to pre-pandemic but has also made the most gains recently.Labor force participation has improved notably in 2022, supporting job growth and easing some of the concerns of labor shortages.Businesses indicate demand for labor remains strong but may be plateauing.
February 25, 2022—The Russian invasion of Ukraine this week put an end to months of speculation and brought the crisis to a new phase. As we wrote earlier this week, our investment committee elected to maintain our portfolio positioning. We believe the critical considerations for investors is whether the Russia-Ukraine conflict derails the otherwise optimistic global economic outlook by way of high energy prices (which could sap spending power) or by way of inflation.