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Will the Fed Stick the Landing? Or Will They Stick Us?

Will the Fed Stick the Landing? Or Will They Stick Us?

April 25, 2024

We recently spent some time with Andrew Opdyke, CFA from First Trust to address a concern that many CRNAs have this year: the future of the market... What's the Fed going to do? Where's the economy going? How's the election going to affect my portfolio and my financial future? We tackle these pressing financial questions and get Andrew’s thoughts regarding the year ahead.

Andrew's extensive background in economics, combined with his hands-on approach to data, provides a fresh perspective from the narratives we often hear in the media. He is a Senior Economist, as well as a member of the First Trust Economics Team (ranked by Bloomberg as one of the top forecasters of the U.S. economy over the past several years). Andrew helps peel back the layers of economic complexity to reveal the true state of affairs.

A couple of the critical questions on everyone's mind are: what is the Federal Reserve up to, and why are they taking a cautious approach to interest rates? Andrew explains the Fed's delicate balancing act between combating inflation and supporting employment, drawing parallels to historical precedents, and emphasizing the importance of not declaring victory over inflation prematurely. At the latest meeting, the Fed said they didn’t have the confidence to start reducing rates yet, but it appears that their goal is still to make cuts in 2024. 

As Andrew points out, the COVID-19 pandemic threw our economy into disarray, and we’re starting to get back to normal as employment increases and people tap out their excess savings. We’ve adapted to the money that was added to the system, but it’s not going away and that’s leading to higher prices.

Perhaps most intriguingly, Jeremy and Andrew delve into the potential economic revolution on the horizon: artificial intelligence (AI). They discuss how AI could lead to a productivity boom reminiscent of the Internet revolution, transforming industries and potentially altering the course of economic growth. 

For CRNAs and advanced practice nurses, this conversation is particularly relevant because it touches on the financial planning necessary for a stable future, especially considering the significant debt many CRNAs face upon entering the profession. Our goal is to help provide you with a wealth of knowledge that can help you navigate your financial journey with confidence.

With decades of experience working exclusively with CRNAs, CRNA Financial Planning® has the knowledge to help you save more of your hard-earned money and plan for life after anesthesia. Schedule an introductory phone call to discuss your current situation and needs. You can also call our office at 855.304.3748 or email us at inquiry@crnafinancialplanning.com.

The opinions voiced in this material are for general information only and are not intended to provide specific financial or tax advice or recommendations for any individual.
Investment Advice offered through Private Advisor Group LLC, a Registered Investment Advisor