AUGUST 2023

In our initial Outlook 2023 publication, we offered a thesis around the concept of two-way risk. We described two competing scenarios: the avoidance of a measurable slowdown in economic activity and an almost-equal probability of a recession. Either would result in markedly different outcomes for the economy and financial markets. The key to unlocking what will unfold is the path of inflation and the response by the Federal Reserve’s monetary actions to tame it. In our first article, we consider what is ahead for the remainder of the year, and not much has changed from our earlier forecast other than the timing of when these opposing risks could emerge. Give us a call if you have any questions or would like to discuss this further.

The Tax Cuts and Jobs Act of 2017 is currently scheduled to sunset at the end of 2025, meaning significant changes are on the horizon for taxpayers. Now is the time to understand those implications and consider strategies to help mitigate the potential tax risks—and our second article can help you get started.

This month's "What's Happening Now" section shares stories on how staying fit as you age isn't just about exercise, an interesting and beautiful Italian beach town, and 50 weird things that can make your home so much more comfortable.



We'd like to hear from you. Please feel free to contact us by phone at 614-888-2121, toll-free 877-389-2121 or email jchornyak@janney.com with any questions or comments. 

Outlook 2023: Mid-Year Update

In our initial Outlook 2023 publication, we offered a thesis around the concept of two-way risk. We described two competing scenarios: the avoidance of a measurable slowdown in economic activity and an almost-equal probability of a recession. The key to unlocking what will unfold is the path of inflation and the response by the Federal Reserve’s monetary actions to tame it. In 2023, the Fed slowed down and, so far, what was broken is slowly healing. Liquidity has returned to global bond markets, deposit outflows from regional banks have stabilized, and the economic decisions halted by extreme interest-rate volatility seem to have resumed.

What to Do Before the TCJA Provisions Sunset

The Tax Cuts and Jobs Act of 2017 is currently scheduled to sunset at the end of 2025, meaning significant changes are on the horizon for taxpayers. Now is the time to understand those implications and consider strategies to help mitigate the potential tax risks—and this article can help you get started. The Tax Cuts and Jobs Act (TCJA) of 2017 brought sweeping changes to the tax code for both businesses and individuals. Along with large, permanent tax cuts to corporate profits, there were ‘non-permanent’ changes. All these ‘non-permanent’ changes, however, are set to expire on December 31, 2025—at which point they will revert back to pre-TCJA levels.

What's Happening Now

Staying fit as you age isn’t just about exercise.

This Italian Beach Town Is a Local’s Secret

50 Weird Things to make your Home more Comfortable

Market Update

Stocks closed higher in July, with benchmark indexes posting notable gains. Both the stock market in particular, and the economy in general, have proven to be resilient in 2023, despite rising interest rates. The Federal Reserve, in its endeavor to bring inflation down to the government's 2.0% target, hiked interest rates another 25.0 basis points in July, to the highest level in 22 years (see below). However, there are clear signs that inflation is finally receding. Market update provided by Broadridge Investor Communications Solutions, Inc.