SLOW MONEY – MAY 16, 2022

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The ARC Asset Management team discusses last week’s CPI (inflation) data, the fact that economists continue to cut GDP forecasts, the University of Michigan Consumer Confidence numbers (weakest since 2011), all while household balance sheets – and corporate balance sheets – remain strong, making the Fed’s job to tame inflation more difficult. This poses unique problems for traditional balanced portfolios as stocks and bonds have been moving in the same direction – down.