Check out the timestamps below to help you navigate through the many topics we discussed.
On This Episode:
With Sharon away for work this week, we invited Andrew Opdyke, CFA from First Trust to join us to address a concern that many people have this year: the future of the market. What's the Fed going to do? Where's this economy going? How's this election going to affect my portfolio and my financial future? We tackle all these pressing financial questions and get Andrew’s thoughts on the year ahead.
Andrew's extensive background in economics, combined with his hands-on approach to data, provides a fresh perspective on the narratives we often hear in the media. He is a Senior Economist and a member of the First Trust Economics Team that Bloomberg has ranked as one of the top forecasters of the U.S. economy over the past several years, and he helps peel back the layers of economic complexity to reveal the true state of affairs.
The critical question on everyone's mind is what is the Federal Reserve up to, and why are they taking a cautious approach to interest rates? Andrew explains the Fed's delicate balancing act between combating inflation and supporting employment, drawing parallels to historical precedents and emphasizing the importance of not declaring victory over inflation prematurely. At the latest meeting, the Fed said they didn’t have the confidence to start cutting rates, but it still appears that the goal is to do that in 2024.
As Andrew points out, the COVID-19 pandemic threw our economy into disarray, and we’re starting to get back to normal as employment increases and people tap out their excess savings. We’ve adapted to the money that was added to the system, but it’s not going away and that’s leading to higher prices.
Perhaps most intriguingly, Jeremy and Andrew delve into the potential economic revolution on the horizon: artificial intelligence (AI). They discuss how AI could lead to a productivity boom reminiscent of the Internet revolution, transforming industries and potentially altering the course of economic growth.
For CRNAs and advanced practice nurses, this conversation is particularly relevant because it touches on the financial planning necessary for a stable future, especially considering the significant debt many CRNAs face upon entering the profession. Our goal is to help provide you with a wealth of knowledge that can help you navigate your financial journey with confidence.
Here’s some of what we discuss in this episode:
- What will the Fed do with interest rates in 2024?
- What impact did COVID have with the shutdown and the government spending that followed?
- What is driving inflation right now?
- The issue that stems from consumer debt continuing to rise.
- How will the US service their massive debt and what problems is that causing?
- The impact AI will have on everything.
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Nurses were not only the first to give anesthesia and specialize in it, but continue to be the experts in anesthesia with amazing safety records.
- Megan Conner, PhD, CRNA
