The Roundup
Quarter in Review – Q3 2023
Q3 continued with the debate of recession vs. soft landing for the economy with many falling into the softlanding camp (and why not, as both the job market and consumer spending remained healthy). In fact this “healthy economy”, which was a good news story in Q1 and Q2, turned into a bit of a headwind in Q3, as fear started to set in about tighter Federal Reserve policy (better known simply as “The Fed”). So once again, The Fed has stolen the spotlight. There was optimism early in the year that The Fed would be pivoting to lower interest rates, but as the quarter progressed, the market became more entrenched in believing what they had been telegraphing for a while, which is “higher for longer”.
