Pain

By John Del Vecchio and Brad Lamensdorf Just one word uttered by Federal Reserve Chairman Jerome Powell has sent the markets reeling. Powell suggested in a short speech that “reducing inflation is likely to require a period of sustained below trend growth.” Then came the doozy. Powell said, “while higher interest rates, slower growth, and…

The Great Unwind?

By John Del Vecchio and Brad Lamensdorf Households are loaded to the gills with stocks. During the start of the COVID pandemic, millions of new brokerage accounts were opened. New investors flooded the market. As the chart below shows, household asset allocation to equities hit a 70-year high earlier this year. Prior peaks have been…