In June, the Federal Reserve raised its target rate a quarter of a percentage point, the second hike in the federal funds rate this year. Here’s a quick rundown of some additional factors that generally affected the economy in June.
New summer interns are now at work at Wambolt & Associates! Being an intern at Wambolt is a two-way learning experience, beneficial to both the intern and the firm. Clients can expect some fresh talent and a new perspective in various areas of the firm, particularly technology.
It’s common for a client to compare their portfolio return to what they see on the news. Last year when the S&P 500 had a banner year, closing out 2017 up 19.5%, a client’s portfolio may have closed out the year with gains of only 11%. Similarly, the markets fell 10% the first quarter of 2018 and the same client’s portfolio may have only fallen by 1%.
The year 2018 started strong with a tax reform boost on January 1. Since then, the market and economic news has become decidedly more worrisome. To many, it looks like too many pieces are pushing and pulling the economy in different directions, and the result is fear.