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Markets & Economic Update for February 2024: Strong Growth and Slowing Inflation

February 12, 2024
David Lundgren, CFA®
David Lundgren, CFA®

Each month, senior leaders of Hancock Whitney's Asset Management team discuss the latest news and events that impact markets and the economy.

 

This month:

Strong economic growth, slowing inflation, and low unemployment are impacting the economy in various ways. Also, the team discusses the likelihood of Congressional passage of immigration reform legislation and continues to monitor the impacts of the ongoing conflict in the Middle East.

 

Watch and listen to the webinar:

 

Key Takeaways:

  • Economic data continues to point to solid economic growth and slowing inflation. Jobs growth has been strong but is that sustainable with the economy fully employed?
  • Up to this point, long-term rates have been influenced by Fed decisions. But inflation slowed so much last fall that markets are now anticipating a Fed pivot to lower short-term interest rates. What’s the likely timetable for the policy reversal?
  • In the 4th quarter of 2023, the stock market rally appeared to broaden beyond Mega-Cap Growth company stocks. Did that carry over into 2024 and what is the near-term outlook?
  • What is the likelihood Congress passes immigration reform before the November elections?
  • The U.S. military has begun more aggressive operations against Houthi rebels in Yemen and other Iranian proxies in the Middle East. What is the outlook for the ongoing conflict and its potential impacts on the economy and markets?

 

The Hancock Whitney Asset Management team is ready to provide guidance and expertise to help you achieve your investment goals. Let's talk soon.

 

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The information, views, opinions, and positions expressed by the author(s), presenter(s), and/or presented in the article are those of the author or individual who made the statement and do not necessarily reflect the policies, views, opinions, and positions of Hancock Whitney Bank. Hancock Whitney makes no representations as to the accuracy, completeness, timeliness, suitability, or validity of any information presented.

This information is general in nature and is provided for educational purposes only. Information provided and statements made should not be relied on or interpreted as accounting, financial planning, investment, legal, or tax advice. Hancock Whitney Bank encourages you to consult a professional for advice applicable to your specific situation.

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