The Morning View: February 20, 2019

  • February 20, 2019

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

Later today, the minutes from the latest Federal Reserve meeting will be released, which should contain additional insight on the decision to remain “patient” with interest rate policy. Given the large pivot at the end of last year from multiple rate increases in 2019 to remaining patient, the reasons for the change will be key to understanding the potential impacts on the economy. Meanwhile, announced last week, Retail Sales fell 1.2% in December, the largest monthly decrease since 2009. With consumption nearly 70% of GDP, a continued decrease in consumer spending will also affect the economy and Federal Reserve policy in the months ahead. In all, equity futures are mixed this morning heading into the market open.

This material is intended to be for informational purposes only and is intended for current or prospective clients of Argent Trust Company. This information is obtained from sources believed to be reliable, and its accuracy and completeness are not guaranteed. Information does not constitute a recommendation of any investment strategy, is not intended as investment advice and does not take into account all the circumstances of each investor. Forward‐looking assumptions are Argent Trust Company’s current estimates or expectations of future events or future results based on proprietary research and should not be construed as an estimate or promise of results that a portfolio may achieve. Actual results could differ materially from the results indicated by this information. Investments can go down as well as up. Past performance is not a reliable indicator of future results.