September 30th 2022 / 4:42 P.M.
Dear Friends :
In the last several weeks, we have continued to face elevated uncertainty in financial markets due to high inflation and rising interest rates, and we thought it was an important time to take stock with the final quarter of 2022 just ahead.
It has been a difficult year...a volatile year, not only for investors but also for households and businesses as we all try to navigate higher prices and borrowing costs. There will be some challenges ahead for the economy as the Federal Reserve (Fed) continues to raise rates to control inflation. We believe the Fed is doing the right thing for the long-term health of the economy, but it does increase near-term economic risks and create volatility.
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