Inflation Risk, Fed Policy, Amid A Boom; Fritz Meyer's Monthly CE Class, January 2022

Can stocks make headway when the Fed starts raising interest rates? Following a sensational +26.9% gain last year, Wall Street is penciling in a meager +4% gain on the S&P 500 in 2022. Strategists forecast slowing earnings growth and P/E ratio compression.

Historic evidence shows that stocks have trended higher even as the Fed raised rates. Watch the yield curve – the difference between long and short interest rates.

The economic boom continues. We enter 2022 with substantial momentum in the economic data, with the LEI up sharply.

However, “stagflation” and “hyperinflation” – fears hearkening a return to the 14% inflation rate in 1980 – are also in the media and financial zeitgeist.

In this class, we’ll compare the unique drivers of the Great Inflation of 1965-82 to current conditions. You come away understanding that the 10-year Treasury breakeven rate indicates investors generally believe that inflation will settle back down, and new insights into the Fed’s inflation policy stance.

Despite high P/E ratios, the Fed’s valuation model shows stocks are reasonably valued compared to bond yields. With the lowest bond yields in U.S. history and negative inflation-adjusted returns, this class explains why the earnings yield on stocks looks attractive, despite high P/E ratios.

This month’s webinar additionally covers important economic statistics and rising earnings forecasts and reconciles Wall Street strategists’ 2021 tactical sector calls with actual performance.

This webinar is eligible for one hour of CE credit towards the CIMA® and CPWA® certifications, CFP® CE, PACE credit toward the CLU® and ChFC® designations, and live CPA CPE credit.
 

Free Offer Is About To Expire On A4A's 12 Credit Financial Counseling CE Course

If you missed the financial counseling course, it's not too late take it for free. Starting in the next two to four weeks, Frank Murtha's highly-rated 12-class Certified Financial Counselor Course will no longer be free to A4A members. 

A4A had peviously announced it would start charging for the course on October 6, but gave A4A members extra time to complete the highly-praised CE course. 

Successfully completing all 12 classes earns the Certified Financial Counselor^™ designation and digital certificate of completion. 

Frank Murtha, Ph.D., received an average rating of 9.7 from the hundreds of participant ratings. 

You can take the 12 classes on demand, if you are an A4A member. Learn more about the financial counseling course before the new pricing goes into effect.