Weekly Market Commentary

THE FED RESETS EXPECTATIONS FOR NEXT YEAR

Jeffrey Roach, PhD, Chief Economist, LPL Financial
Lawrence Gillum, CFA, Chief Fixed Income Strategist, LPL Financial

The Federal Reserve (Fed) is moving more cautiously in adjusting policy, and markets might have a hard time resetting expectations. Throughout the latest press conference with Fed Chair Jerome Powell, equity markets declined as investors were befuddled with the large upward revision to 2025 inflation forecasts; despite disappointing inflation projections, the “vibecession” is over as businesses and consumers have become more optimistic. We highlight pent-up demand for capital investment that could provide support in the new year.

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