Annual presentation from Ferguson Wellman investment team discussing the major themes facing capital markets in 2023 and how they will affect client portfolios.
We Have Liftoff
On Wednesday, the Federal Reserve lifted their key interest rate by 0.25% in the first of six expected rate hikes for this year, and possibly another four proposed increases in 2023. Federal Reserve Chair Jerome Powell had indicated that this increase was coming. So, when the stock market rose on Wednesday in response, it was less about the rate hike itself and more about Powell’s language associated with the move.