Investment Commentary – October 2023
October 6, 2023
As we head into the final quarter of the year, the prevailing theme regarding the economy has become “no boom, no bust.” Inflation is trending down, the economy is expected to see moderate growth, and it appears the Federal Reserve may be on track to engineer something of a “Goldilocks” scenario, slowing the economy enough to bring down inflation, but without tipping the economy into a recession. Uncertainty remains elevated, and there are still potential risks on the horizon, but we enter the final quarter of the year with a sense of cautious optimism. The end of the rate hike cycle is in sight, and the most pressing questions for investors are now how long will rates stay elevated and can the economy continue growing throughout a period of higher interest? For Hanover’s thoughts on these matters and the other economic trends that will be driving the market in the coming months, please read our Q3 Market Commentary at the link below.