Almost 50 people joined the Marathon Financial Advisors Team for the State of the Economy Seminar on Tuesday, November 5th with Dr. Quincy Krosby at Drumlins Country Club. Dr. Krosby, whose impressive resume includes positions as a U.S. Diplomat, Assistant Secretary of Commerce and a representative of the United States to the International Monetary Fund, spoke eloquently about tariffs, negotiations with China, the effect of politics on the market, other global economies and the Santa Claus Rally.
Here are some highlights discussed at the seminar from her Q4 Commentary:
- Tariffs are forming a “dark cloud” over the global economy: Our current trade situation has been called the “largest hurdle” for the global economy. This is causing for discussion about an impending recession in 2020, and is causing a lack of confidence and investment.
- The European Central Bank May Steer members toward fiscal stimulus: To accommodate the concern of a worldwide recession, central banks are lowering rates. The ECB announced that a stimulus package would be introduced.
- Global trade, earnings matter more than current political headlines: Historical data tells us that regardless of the impeachment inquiry, fundamentals of the market matters more than the drama of the news cycle. The market will adjust and order will prevail.