Kelly:
It’s been a tariffying week for the markets, and we wanted to share our perspective on what’s happening-- and how we’re approaching it. First and foremost, this past week serves as a powerful reminder of an important principle: don’t react impulsively during market turbulence.
We have a solid plan in place for each of our clients, and moments like these highlights just how critical it is to stay the course. When the market is dropping—or bouncing back sharply like it did Wednesday—trying to time it, can feel like trying to catch a falling knife.
Alex, can you share some of the more encouraging data we’ve seen?
Alex:
Let’s start with a few positive developments.
Despite recent tariff headlines, the broader economic data has remained relatively stable. The March inflation report, released Thursday, showed a month-over-month decline, with inflation holding at 2.4%—better than expected.
We also saw a strong jobs report with 228,000 new jobs added—well above forecasts. Oil prices are continuing to fall, partly due to OPEC increasing production.
So, while there are positive signs in recent data, the road ahead still holds a lot of uncertainty. With that, I’ll hand it over to Tom.
Tom:
Yes, the dominant theme in the news right now is tariffs. The markets are watching a 90-day window for key trade negotiations with major partners, which adds a sense of urgency to the headlines.
At the same time, all eyes are on the Fed. They’re in a tough spot—balancing concerns about inflation against the risk of a potential recession. Expect a lot of headlines questioning whether the Fed is moving too slowly or too aggressively.
We’re also closely monitoring the progress of the current tax bill. If tax laws remain unchanged, it might not be seen as particularly pro-growth. On the other hand, new tax cuts could help offset some of the economic pressure from tariffs.
This uncertainty is making it difficult for companies to forecast earnings for the next few quarters.
Kelly:
Here’s what you can expect from us: as always, our guidance is grounded in your financial plan. This is an excellent time to revisit your plan and test the probabilities of success to ensure you’re still on track.
We’ll also be looking for opportunities to harvest tax losses throughout the year. And for those with available cash—or those looking to increase equity exposure—this may prove to be a strong entry point.
Please don’t hesitate to reach out with any questions or concerns—we are here for you.
As always, we thank you for your trust and confidence,
Tom, Kelly, Alex, Amanda, Jesus, Larry, & Rachael