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September 27, 2023

Market Commentary: October 2023

Higher rates outlook causes ripple effects.

  • In September, the FOMC left policy rates unchanged at current range of 5.25-5.50%. The dot plot now shows that the committee currently expects to hike once more before the end of the year and only cut 50bps in 2024. Putting this all together, for markets, the FOMC meeting reiterated the “high for longer” narrative for interest rates. – GSAM
  • Fed officials signaled last week that they plan to keep interest rates high for quiet a while. For families who don’t need to borrow, higher rates might not affect daily life too much. But for those who do, the Fed’s aggressive rate increases are really beginning to sting. “The bite is starting now”, said Liz Ann Sonders, chief investment strategist at Charles Schwab – WSJ

As always, we continue to believe that one’s circumstances and risk profile should determine the appropriate mix of investments, and not media headlines. Please contact us if you ever have any questions or concerns about your accounts or any news you hear.

Information in this commentary is gleaned from third party sources, and while believed to be reliable, is not independently verified. This content is not intended to be tax, legal, investment or fiduciary advice. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it. The strategies and/or investments discussed in this material may not be suitable for all investors. Bernardo Wealth Planning recommends that investors independently evaluate particular investments and strategies, and encourages investors to seek the advice of a financial advisor. Past performance does not guarantee future results.

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This material does not provide individually tailored investment advice. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it. The strategies and/or investments discussed in this material may not be suitable for all investors. Bernardo Wealth Planning recommends that investors independently evaluate particular investments and strategies, and encourages investors to seek the advice of a financial advisor. The appropriateness of a particular investment or strategy will depend on an investor’s individual circumstances and objectives. © 2016 Bernardo Wealth Planning

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