‘We have to be defensive.’ Here are year-end strategies from advisors amid volatility, rate hikes, inflation
By | Kate Dore, CFP® | www.cnbc.com
It’s been a nerve-wracking year for investors.
With ongoing stock market volatility, high inflation and interest rate hikes, many wonder if we’re heading for a prolonged economic downturn.
“I think we have to be defensive,” said certified financial planner Ivory Johnson, founder of Delancey Wealth Management in Washington, D.C.
While it’s impossible to predict exactly what will happen, financial advisors are preparing clients for whatever may be on the horizon.
We spoke with experts from CNBC’s Financial Advisor Council to see what they’re predicting for the fourth quarter of 2022. Here’s what they are telling clients.
Interest rates may cause ‘some pain’ to economy
Delivering his annual policy speech in Jackson Hole, Wyoming, Federal Reserve Chairman Jerome Powell in August warned the central bank’s plans to continue raising interest rates to fight soaring prices may cause “some pain” to the U.S. economy.
