2019 Q4 Economic Recap and Rate Outlook

As December began, there were an unusually high number of potential disruptions capable of derailing an already fragile U.S. economy. The December Fed meeting and a U.K. general election, both key events, took a backseat to impending tariff escalation and the possibility of another government shutdown. But one-by-one, all the concerns eased. The year ended with a prevailing sense of calm. Recession fears have receded. Stocks rallied unimpeded during the final month, shrugging off the House impeachment of President Donald Trump along the way, undaunted by the upcoming Senate trial or the November 2020 elections. The NASDAQ climbed a staggering 35% in 2019, while the S&P 500 and the DOW rose +29% and 22% respectively.

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