Retirement & Estate Investment Services

"With third quarter GDP being reported next Wednesday – less than a week before election day – the US is still not in recession." Read First Trust's full Monday Morning Outlook article, "GDP Growth Still Solid", here: https://lnkd.in/ez3VmcUe

"There are two types of economists in the world…demand-siders and supply-siders. Without digging too deeply, one huge difference shows up in government policy." Read First Trust's full Monday Morning Outlook article, "Have We Reached Peak Keynesianism?", here: https://lnkd.in/eX78xJpM

"The federal debt is already $35 trillion and currently rising by roughly $2 trillion every year – with no end in sight. As a result, some investors are worried that the US could become a 21st Century version of Argentina: completely bankrupt and unable to pay the bills. We don’t think that’s going to happen. It’s not that the national debt doesn’t matter, it does matter. Instead, it’s because the recent surge in the interest on the national debt is going to have big effects on government policy." Read First Trust's full Monday Morning Outlook article, "The Politics of Limits," to find out more: https://lnkd.in/ezeWe4Jf

"With only one week left in the fiscal year, it looks like the budget deficit for the federal government for Fiscal Year 2024 is going to come in at about $1.9 trillion, which is 6.7% of GDP." Read First Trust's full Monday Morning Outlook article, "The Budget Blowout," to find out more: https://lnkd.in/eDZUkEwg

"Friday’s employment report suggests the US economy may be slowing down faster than most investors think." Read First Trust's full Monday Morning Outlook article, "Slower Faster", to find out more: https://lnkd.in/eX2XSfb9

"In this week’s Three on Thursday, we explore the current state of indebtedness and financial health of U.S. households. Each quarter, the Federal Reserve Bank of New York provides a comprehensive overview of consumer borrowing and repayment trends, drawing from a nationally representative sample of Equifax credit reports. Curious about the latest trends?" Read the full article here: https://lnkd.in/eueAC9Ft

"In this week’s edition of 'Three on Thursday,' we take a look at the overall energy picture in the United States. Historically, the U.S. has been a net consumer of energy, consistently using more energy than it produced for several decades. However, this dynamic has shifted dramatically in recent years. The fracking revolution, along with a slight drop in energy consumption, has transformed the U.S. into a net energy producer." Click the link to read more: https://lnkd.in/e-T5y_zZ

"Could this be the last Fed meeting before rate cuts begin? With inflation moderating and job growth weakening, the Fed prepared markets for a more eventful meeting in September while not committing to anything just yet." Read First Trust's full economic research report, "September is Live," here: https://lnkd.in/ejbGedWc

"In this week’s edition of 'Three on Thursday,' we examine some key high-frequency data to see how things stand a few years after the COVID-19 shutdowns of 2020. Many believed that the world would be forever changed and that things would never return to their pre-pandemic state. However, the data show that the post-COVID world resembles the pre-COVID world in many ways." Read First Trust's full Three on Thursday article, "High Frequency Data in the Post-COVID Economy," to find out more: https://lnkd.in/ejezSNjh

"The lags between a shift in monetary policy and the economic impact are long and variable. While the actions of the Federal Reserve during the pandemic were unprecedented, it finally looks like the excess money pumped into the economy has worked its way through the system. And with the M2 measure of the money supply down from its peak, the economy is reacting." Read First Trust's full Monday Morning Outlook article, "M2 Slowdown Finally Gaining Traction", to find out more: https://lnkd.in/e6jP8Pub