The Morning View: December 21, 2018

  • December 21, 2018

BY: MARSHALL BARTLETT
Senior Vice President / Portfolio Manager
(615) 591-0611   mbartlett@argenttrust.com

The final reading on GDP growth in the third quarter is 3.4%, per this morning’s release, one tenth lower than expected. When coupled with the 4.2% GDP growth in the second quarter, it is trending toward 3% for the year and is expected to slow to 2% in 2019, per Federal Reserve chair Jerome Powell’s comments this week. While trending lower, 2% still connotes a growing economy, not a recessionary period. Economic data in the coming weeks will be key in determining whether two additional rate increases are needed next year, as stated by Jerome Powell this week as well. Markets continue to fluctuate following the Federal Reserve’s comments as futures are now mixed, after being lower earlier in this morning’s session. Have a safe and happy holiday!

This information has been prepared by Argent Trust to highlight issues which may be of interest to the recipient and is not intended as legal, investment or tax advice. You are urged to seek legal, tax and accounting counsel for your particular situation before acting on topics discussed here. At Argent Trust, we assist our clients in managing and enhancing their wealth. Please call us at 615.591.0044 with questions or to schedule a meeting. © 2018 Argent Financial.