Economic & Market Update

Economic and Market Update July 2025 EXECUTIVE SUMMARY * It is an up year almost all the way around, with nearly all major indices in positive territory. * Tariffs and talk of replacing Fed Chair Powell have driven volatility without any major negative consequences, yet. * The One Big Beautiful Bill Act (OBBBA)

AN ECONOMIC AND MARKET UPDATE May 2025 EXECUTIVE SUMMARY * GDP turns negative for the first time in three years driven largely by higher imports in Q1 2025 in anticipation of President Trump’s tariff policy. * A “big, beautiful bill” giving us clarity on future tax policy is in the works.

Markets ended 2024 up on the year across all major asset classes; 2025 looks setup for solid economic growth that may not live up to growth expectations.

EXECUTIVE SUMMARY * Stock indices are high and returns across all major asset classes are positive this year. * Market volatility spikes when the incumbent party loses the White House, but who is the incumbent? * Forward returns are not looking overly optimistic; check your risk and take your gains if your goals

If You Haven't Seen It Yet, You’re Going to Want To: Rocket Caught by "Chopsticks" On October 13, 2024, SpaceX made aerospace history by capturing its Super Heavy booster mid-air with the launch tower’s "chopsticks" arms. This breakthrough reusability maneuver demonstrates a