Chart of the Week
Over the last three years, recreational vehicle purchases exploded. In 2022, the pace of these purchases nearly doubled compared to 2019. This makes sense given the lack of travel during the pandemic. With financing costs at double digits though, inventories are on the rise for boats and similar “investments in fun,” as my dad calls them. Larger purchases will be difficult for the consumer to swing. It is one example of the Fed’s efforts to slow demand and put a lid on inflation. The impact of these efforts will be felt across the economy and in a variety of sectors.
What We’re Reading
3 Questions That Will Get Your Finances — and Life — on Track – CNN
The Buck Stops Here – Research Affiliates
Eye On the Market: American Gothic – JPMorgan
The Venture Capital Math Problem – A VC
Podcast of the Week
Landing Soon – The Week Ahead – Macro Horizons
The Past Week
Economic data came in mixed last week. The data outperformed expectations with services and manufacturing but showed a contraction in economic activity. The GDP report was a bright spot with the economy growing 2.9% in an early look at 4th quarter growth.
The Week Ahead
The Fed meets on Wednesday and is widely expected to raise interest rates by 0.25%. A meeting at the White House on the debt ceiling will also garner attention. Investors will gauge the growth prospects of the technology sector as mega-cap companies issue their earnings reports. On Friday, the monthly jobs report comes out.
Thank you for reading.
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