The summary:
"The global monetary easing cycle will be in full swing in 2025, with inflation in most
developed economies now within touching distance of central banks’ targets. The
good fortune of high productivity growth and a surge in available labor has propelled
the U.S. economy, while other economies have been less lucky. The potential for
these positive supply-side factors to wane is a key risk to our U.S. outlook, though
expansionary fiscal policy may cushion any negative impact on growth.
We reemphasize the view we put forth a year ago, that an era of sound money—
with interest rates above the rate of inflation—lives on. That said, markets face a
growing point of tension: Assets with the strongest fundamentals have the most
stretched valuations, and vice versa. Short-term economic and policy risks will help
determine whether momentum or valuations dominate investment returns in 2025."
https://corporate.vanguard.com/content/ ... o_2025.pdf
"The global monetary easing cycle will be in full swing in 2025, with inflation in most
developed economies now within touching distance of central banks’ targets. The
good fortune of high productivity growth and a surge in available labor has propelled
the U.S. economy, while other economies have been less lucky. The potential for
these positive supply-side factors to wane is a key risk to our U.S. outlook, though
expansionary fiscal policy may cushion any negative impact on growth.
We reemphasize the view we put forth a year ago, that an era of sound money—
with interest rates above the rate of inflation—lives on. That said, markets face a
growing point of tension: Assets with the strongest fundamentals have the most
stretched valuations, and vice versa. Short-term economic and policy risks will help
determine whether momentum or valuations dominate investment returns in 2025."
https://corporate.vanguard.com/content/ ... o_2025.pdf
Statistics: Posted by Tdubs — Fri Jan 10, 2025 1:18 pm — Replies 6 — Views 484