A Midyear Update: What’s Next for 2024?

Presented by Sean P. Reilly, Managing Director, GatherWealth Investment Management
sean@gatherwm.com
(401) 310-3920

We started the year with most economists and investors expecting markedly slower growth in 2024 due to high interest rates, slowing consumer spending, and a weakening job market. Economic data has largely defied these expectations through the first half of the year as a surprisingly strong job market helped support continued consumer spending and economic growth.

Although this stronger-than-expected start to the year was largely welcome, it contributed to higher-than-expected inflation. That, in turn, caused interest rates to rise and put pressure on the Federal Reserve (Fed). These mixed economic results led to mixed investor results, as stocks were up while bonds were down.