Clients and Friends,
One year ago, the Federal Reserve was accelerating rate hikes in the face of stubborn inflation. The fight to tame inflation was on, as was the guessing game of how high, how fast, and how long rates would rise.
And while It’s tempting to play along and get caught up reading the economic tea leaves, history and experience have shown us how difficult it is to predict macroeconomic outcomes, and the importance of being honest about that.
Read more about how we are responding to the most recent market conditions in our Q2 Market Update:
