Happy new year, my friends!  I am excited to make this new year our best year yet – full of growth, success, good health, and happy investing. I wish the very same for you and more. Here are a few of the stories we have our eye on as we roar into 2024! 

Inflation – This was one of the major stories of last year, but it does appear that inflation will be mostly under control and continue to ease as the year progresses. 

Interest rates – Once the Federal Reserve feels more comfortable that inflation will remain solidly under 3%, expect them to start cutting the federal rate…slowly!  We may not see cuts in the first quarter, but a few rate cuts in the second half of the year is a real possibility followed by an increase in economic growth. 

Recession – Again, we are reminded how resilient the U.S. economy is.  Although the threat of recession still exists, it is looking much more likely that we will either avoid a recession altogether or experience a mild slow down. 

Unemployment – One of the reasons the economy is remaining strong is the continued demand for jobs.  The unemployment rate is expected to rise this year but not exceed 5%.  Small business owners and manufacturers may see some better hiring prospects this year, but finding talent remains one of the main concerns in this economy. 

Supply chains – Finally normalizing, but this is something that can change given the multitude of global risks that exist today.

Immigration – Congress is likely to approve a significant immigration reform bill in the first quarter of the year.  No one knows what it will include, but the expectation is that it will provide more powers to manage the migrant crisis on the southern border. 

Election – Who’s ready for all the political ads to take over our TV’s and signs to overrun our real estate in the coming weeks??  NOT ME!  But it’s as inevitable as pumpkin spice lattes in the fall.  This is an election year and a monster one at that.  Expect it to be full of legal challenges, a potential impeachment of Biden, possible criminal convictions for Trump and a downright ugly political environment that will dominate our news media outlets and airwaves. 

Bonus Tip:  Corporate Transparency Act – Have you heard of this yet?   If you’re a business owner this will most likely affect you.  Check in with your CPA or attorney about the new requirement to file with the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) to remain compliant. 

2024 is here!  If you have questions about your business or commercial investment goals and how these factors that we are tracking can influence your position, I am happy to meet and help you build a strategy for your long-term success.