The term “new normal” was coined during the rubble of the 2008-2009 great financial crisis to imply that normal business cycles were a thing of the past. Today, the business cycle is back in full force and “new normal” is a thing of the past.
February 5, 2018 | Volatility returned to global stock markets last week with the S&P 500 declining -3.85 percent from its Jan. 26th all-time high with international markets following suit.
In this edition, we share our 2018 Outlook with you to help navigate the year ahead, but we’ll resist the temptation to make a market call.
The House of Representatives and Senate passed their separate versions of the tax reform bill in November and December, respectively. Subsequently, the two houses of Congress sorted out their differences and reached a conference agreement on the final version of the Tax Cuts and Jobs Act and passed the conference agreement bill.
In this holiday abbreviated version of Market Monthly we’ll recap some key themes and trends we’ve discussed throughout the year and begin setting the stage for 2018.
Wednesday’s status quo Federal Open Market Committee (FOMC) meeting was overshadowed by Thursday’s anticipated nomination of a new Fed chair. On Thursday afternoon President Trump nominated Jerome (Jay) Powell to lead the Federal Reserve beginning in 2018.