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By Dr. George Calhoun – Vestbridge Advisors, Inc. Advisory Board Member Executive Director of the Hanlon Financial Systems Center

Fourth-quarter 2023 corporate results have been the focus of investors in recent weeks, with inflation and Fed policy taking a backseat.

“There is no limit to the amount of good you can do if you don’t care who gets the credit.”
– 40th US PRESIDENT, RONALD REAGAN –

At the January 31st Federal Open Market Committee (FOMC) press conference, Fed Chair Jerome Powell struck a hawkish tone as he pushed back sharply against expectations that the Fed will enact its first rate cut in four years in March 2024.

If one were to rank the biggest drivers of stock market performance in 2023, mega-cap dominance and the missing recession would likely be atop the list.

“We must use time creatively, in the knowledge that the time is always right to do right.”
– MARTIN LUTHER KING JR. –

The fourth quarter showed encouraging evidence that the Fed may pull off a soft economic landing, with economic data showing persistent improvement in inflation while employment and GDP data continued to surprise to the upside.

May Peace, Joy, Hope and Happiness be yours during this Holiday Season and throughout the New Year

– THE VESTBRIDGE TEAM –

The primary policy tool which the Federal Reserve uses to influence the economy is the Federal Funds Rate (or “Fed Funds Rate”), the target interest rate at which commercial banks can borrow or lend reserves overnight.

Let us remember our fallen comrades
in the Pearl Harbor attack.

– ANONYMOUS –