Without question, the outbreak of the COVID-19 virus has quickly wreaked havoc on a US economy that had been in the midst of its longest expansion on record.
The US economy is in the midst of the longest expansion on record at 126 months, and at this point in the cycle the slowing growth that has been experienced should be expected.
While growth has moderated somewhat in 2019, the current US economic expansion is now the longest in history.
The global economic environment has continued to soften, as economists point to protectionist trade policies and uncertainties about the outcome and impact of Brexit
Equity markets did an about-face during the quarter, generating the largest quarterly advance since the third quarter of 2009
Questions about the future health of the economy, the FOMC’s decision to raise short-term interest rates at its September meeting and slowing earnings growth were a few of the drivers impacting markets during the quarter.