August 2021 Reflection
“Life is full of ups and downs. The trick is to enjoy the ups and have courage during the downs.”
The past two months have been quite the roller coaster! July brought Federal Reserve Chairman, Jerome Powell’s testimony which went along way to stir up an uproar from the markets concerning bond tapering (read: rapid bond buying). Originally, the Fed. insisted they would not consider tapering the buying rate until 2022 or 2023, however they reversed course and indicated they would begin the taper this year. July also saw another bump in the road as we continue to stave off a resurgence of the Delta variant of COVID-19. Cases are flaring all around the country which threatens not only lives, but the economic recovery as well.
August endured more of the same - continued COVID-19 scares, however there was a development: the Pfizer vaccine finally achieved FDA approval which will inevitably increase the total vaccination rate here in America. Additionally, retail sales declined 1.1%, which could indicate the slowing of our economy. Considering consumer spending contributes approximately 70% of our economy, this stat is one I will be watching closely.
Master conductor, Jerome Powell once again calmed the markets from Jackson Hole via his monetary policy summit last month. Essentially by being vague on the actual date of the bond tapering, but confident it would be awhile meant investors could breathe easy for the moment. No matter how September shapes up - I’ll be ready!
Thank you again for sharing your most precious asset: time.
Johnathan L. Manning
Founder & CEO
Craw Park Capital
912.434.4834
...Better to Show, than Tell.
www.CrawParkCapital.com