Follow on Google News News By Tag Industry News News By Location Country(s) Industry News
Follow on Google News | 2024 Economic Outlook: More stability and prosperityBy: The Sanibel Captiva Trust Company The breakfast program, held Jan. 22 at the Tribby Arts Center in Shell Point Retirement Community, was kicked off by The Sanibel Captiva Trust Company's Founder and Chairman, S. Albert D. Hanser and Sanibel Office President, Jeff Muddell, MBA, CFP®. The event attracted more than 130 people and featured insights from four of the Trust Company's industry experts:
Ciskowski began the discussion with a look back at 2023, a year many industry insiders thought would be filled with market volatility due to instability across the globe. However, that was not the case. Beneath the surface of this broad and robust index performance, however, there was a historical divergence in performance across styles, with the Russell 1000 Growth index registering a 43% return, while the Russell 1000 Value index grew a more modest 12%. Holston continued the discussion by touching on a topic at the top of everyone's minds – will the U.S. presidential election in 2024 have a positive or negative impact on the economy? Holston researched election years dating back to 1948, noting only two occasions – in 2000 and 2008 – when the S&P 500 had a negative return for the year. Vanderhorst pulled artificial intelligence into the conversation, noting how AI can be applied in the financial sector. While opinions are mixed and it is still early in its usage, Vanderhorst sees its potential as a risk management tool. The program concluded with The Trust Company's outlook for 2024. The firm's management team expects the Gross Domestic Product (GDP) will rise, the labor market will be strong, and interest rates will remain elevated and stay higher for a longer period than the market expects. However, the Federal Reserve will likely slowly cut rates, perhaps three to four times this year. Fort Myers Office President, Megan Marquardt, managed the robust question and answer session that followed the presentation. For more information about The Sanibel Captiva Trust Company and its services, visit www.sancaptrustco.com. (https://link.mediaoutreach.meltwater.com/ End
|
|