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Kurt Spieler
Chief Investment OfficerJul 13 2023
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2023 Mid-Year Investment Update
Author: Kurt Spieler, Chief Investment Officer
Across the U.S. economy, we expect to see slower growth in demand, jobs, profits and inflation. Recession is not certain, however, as some areas of the economy may remain strong while other sectors contract. This is sometimes referred to as a 'rolling recession', which may describe economic activity for the next few quarters. In our Mid-Year Update, the Investment Management team shares insight on what may happen next: economic growth or recession.
The update provides:
- An in-depth review of inflation and the post-pandemic macro-environment. Inflation remains a concern, and the ongoing impact of COVID-related policies makes it challenging to forecast economic growth.
- An assessment of the stock market and investment strategy. The potential for a mild recession is leading us to maintain a slightly defensive portfolio.
Read the full 2023 Mid-Year Investment Update for a detailed analysis and to learn how our team is adjusting its outlook and strategy in response.
Investment products are: Not a Deposit • Not FDIC Insured • Not Insured by any Federal Government Agency • Not Guaranteed by the Bank • May Go Down in Value
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