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This was recorded on March 28, 2025.
This is provided for informational purposes only and should not be construed as investment advice. References to specific portfolios should not be considered a recommendation.
Data and analysis does not represent the expected future performance of any investment product or strategy.
The S&P 500 is a market-cap weighted index composed of the common stocks of 500 leading companies in leading industries of the U.S. economy.
The fed funds rate is an interest rates in the U.S. economy that affects monetary and financial conditions, which in turn have a bearing on critical aspects of the broad economy including employment, growth, and inflation. The fed funds rate also influences short term interest rates, albeit indirectly, for everything from home and auto loans to credit cards, as lenders often set their rates based on the prime lending rate. The prime lending rate is the lending rate at which banks charge their customers. The Federal Open Market Committee (FOMC) meets eight times a year, to set the fed funds rate, and uses open market operations to influence the supply of money to meet the target rate.
Consumer spending is the total money spent on final goods and services by individuals and households for personal use and enjoyment in an economy. Contemporary measures of consumer spending include all private purchases of durable goods, nondurable goods, and services. Consumer spending can be regarded as complementary to personal saving, investment spending, and production in an economy.
Gross domestic product (GDP) is the total monetary or market value of all the finished goods and services produced within a country’s borders in a specific time period. As a broad measure of overall domestic production, it functions as a comprehensive scorecard of a given country’s economic health.
Sources:
Person Income & Outlays, January 2025: https://www.bea.gov/news/2025/personal-income-and-outlays-january-2025
Personal Income & Outlays, February 2025: https://www.bea.gov/news/2025/personal-income-and-outlays-february-2025
Federal Reserve Bank of Atlanta, GDPNow: https://www.atlantafed.org/cqer/research/gdpnow
U.S. International Trade in Goods and Services, January 2025: https://www.bea.gov/data/intl-trade-investment/international-trade-goods-and-services
