Review the latest Weekly Headings by CIO Larry Adam.
April 30, 2021
- Volatility May Spike As Tax Hikes Are Debated
- Political Tensions Will Rise As The Mid-Term Elections Near
- A Taper Tantrum May Occur If The Fed Adjusts QE
Today marks 100 days since President Biden was sworn into office, a time often referred to as the ‘honeymoon period’ for a new president’s tenure. It is typically when a new president has the most political capital to tackle his greatest priorities. President Biden assumed the presidency at a critical juncture in our nation’s fight against the COVID-19 pandemic and in the economic recovery process, and his two goals of turning the corner on the virus and achieving broad-based economic prosperity are not mutually exclusive. We will leave the grading of his initial actions toward his campaign promises to the media outlets, and instead evaluate the economic progress and equity market performance seen thus far versus prior presidents, and provide our outlook as to whether the current trajectory of the economy and equity market will shift during this ‘post-honeymoon’ stage we are entering.
- A Reflection Upon The First 100 Days | Our nation has been fortunate to ward off the fourth surge in COVID cases through inoculation. In fact, the US has now distributed over 237 million doses of vaccines, well above President Biden’s upwardly revised 200 million target, and appears to be on track for achieving herd immunity by our target date of late July.