The Boom No One Expected Has Legs; Fritz Meyer, Sept. 2023

This class covers the Federal Reserve's Open Market Committee Sept. 19-20, which is likely to be the big economic news story for September.   

GDPNow, the Atlanta Federal Reserve Bank's algorithmic-driven predictor of GDP growth for the current quarter, as of August 24, expected a +5.9% growth rate for Q3 2023. The labor market is booming and inflation is under control. 

However, mortgage and consumer loan rates are at 20-year a high, stocks are fully valued, and the LEI declined for the 16th month in a row in July. In addition, since the start of 2023, the Fed funds/10-year yield curve has been severaly inverted -- at levels only seen previously in the months preceding a recession.   

Participants come away from this class with a plain-English explanation of data-driven analysis of U.S. fundamentals, including the manufacturing and service PMIs, PCE deflator index, and 12-month forward-looking expected earnings valuations, as well as a refresher on the long-term U.S. debt.      

Objectives of Fritz Meyer's monthly classes for investment advisors include:

● contextualizing current financial economic metrics versus long-term historical data 

● providing knowledge to formulate and explain your investment outlook concisely 

● understanding Federal Reserve actions and outlook

● implementing a prudent discipline 

● analyzing the latest financial data, including:

● M2, down slightly from its post-Covid high, is still high versus its history

● today’s Fed meeting and policy pronouncements

● new-job formation in October declined but still strong

● job openings still far exceed job seekers

● savings rate

● personal spending

● consumer income and spending

● DPI and savings

● household balance sheets strong

● PCED and CPI

● savings rate

● retail sales

● housing starts nosedive

● latest consensus WSJ Survey

● latest GDPNow forecast for Q3 2023 GDP is booming

● LEI declined 16 straight months through July

● Fed funds/10-year yield curve

● labor participation rate

● S&P 500 earnings

● manufacturing and services PMI

● auto sales

● S&P 500 expected vs current and historical p/e

Ratings by participants in Fritz Meyer's monthly CE webinars for over decade have averaged 9.7 (out of 10). A former senior strategist at one of the world's largest investment companies for over a decade, Fritz is an independent economist.

This monthly course is eligibile for one hour of CE credit towards the CIMA^® and CPWA^® certifications, CFP^® CE and PACE credit toward the CLU^® and ChFC^® designations.

Who Should Attend: Financial Advisors, CFPs, EAs, CFAs, CPA/PFSs, CIMAs, CLUs and ChFCs.
Cost: There is no fee to attend this course if you are a member of Advisors4Advisors ($180/year).
CPE credit: 1 hour, in the Economics field of study
Prerequisites: None
Advanced Preparation: None
Course Level: Update
Course Delivery Method: Group Internet-Based
Program Policies: For more information regarding administrative policies such as refund, cancellation and complaint, please email This email address is being protected from spambots. You need JavaScript enabled to view it..

Advisors4Advisors is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org. Advisors4Advisors is also approved as a continuing education sponsor by IWI, which administers the CIMA^® and CPWA^® designations, and CFP Board of Standards, which licenses the designation for CFP^® professionals.