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Despite continuing concern over the state of the economy, plus added unknowns pertaining to the upcoming U.S. elections, CFOs remain optimistic about their own company’s economic trajectory. Respondents to the latest quarterly edition of The CFO Survey, a collaboration of Duke University’s Fuqua School of Business and the Federal Reserve Banks of Richmond and Atlanta, on average, said they expected to see revenue growth of 4.9% this year and 7.1% in 2025. Pricing was expected to gain by 3.5% in 2024 and 4.0% in 2025, according to the approximately 450 financial executives who were polled. “In spite of uncertainty in the economy, firms still expect a soft landing,” said Sonya Ravindranath Waddell, vice president and economist with the Federal Reserve Bank of Richmond. “[They] continue to invest in the infrastructure that they need not just to continue operations, but to increase capacity and offer new products. Duke University Federal Reserve Bank of Richmond #CFO Chartered Accountants Australia and New Zealand #CPA #CA Chartered Professional Accountants (Ontario) AICPA ACCA Business Transformation – Red Lobster - https://lnkd.in/gYb24KCU

From an article in Raw Story: Trump's plan would cut the GDP by 8.9 percent. Let me put that in perspective for you: this is roughly twice the amount that the GDP went down during the financial crisis." On Thursday morning, MSNBC economic analyst Steven Ratner painted a dark picture of what he expects will happen if Donald Trump win's re-election in less the two weeks. Standing before a big display that blared "Trump's Plan Will Crater Economy," the investment analyst claimed voters could find themselves mired in another depression based on the GOP's proposed economic plans. Ratner noted that a wide range of economists have grown alarmed at a Trump presidency. "So why are these economists so opposed to Trump's plan?" he told the panel. "Because the economic effects would be pretty terrible. This is a study done by Bloomberg Economics and they found that Harris' plan did not have much change in either the GDP or inflation which in a sense is a good thing at this point." Turning to his display, he added, "But look at what Trump's plan would do. Trump's plan would cut the GDP by 8.9 percent. Let me put that in perspective for you: this is roughly twice the amount that the GDP went down during the financial crisis." "We would be looking at something between a recession and a depression and interestingly, I'm sure people know because we've talked about this many times, the tariffs would cause certainly a part of this, but the biggest cause actually of this drop are the mass deportations that Trump is talking about because he would take huge pieces of our labor force out of the country, send them back or send them somewhere else, and the result would be business wouldn't have labor," he elaborated.

As we anticipate potential changes from a unified Republican government, the economic landscape will likely undergo significant shifts. Our Great Lakes Advisors economic insider, Jason Turner, shares his latest analysis on how  President-Elect Trump’s proposed policies—ranging from tax cuts to deregulation—could affect growth, inflation, and the overall market.   🔍 Key Takeaways: • Tax Cuts: These are expected to stimulate corporate profitability but may strain our long-term debt outlook. • Deregulation: This will likely have a bullish effect on equities, though the implications for Treasuries remain uncertain. • Trade Tariffs and Deportations pose considerable risks, resulting in lower growth prospects and heightened inflation.   Understanding these dynamics is crucial for investors navigating the evolving economic landscape. We explore both the potential risks and opportunities that lie ahead.   Check out the full article for an in-depth analysis and insights!  https://lnkd.in/gYXRw9ee #Economy #Markets #Trump2024 #Investing #PolicyAnalysis #EconomicOutlook #TaxCuts

What’s Next for the U.S Economy? 🇺🇸 As the U.S. election unfolds, the promises are bold—but the path to delivering real change will require specific actions. From balancing growth with innovation to addressing mounting debt, the next president faces a few critical areas that will shape the nation’s economic future. Great little article on what needs to be done - worth reading. https://lnkd.in/e2uRN9x2

🇺🇸 The Economist Who Nailed the 2024 Election Warns of a Trump Deficit Explosion and Rising Inflation in 2025 ... The recent US election, resulting in a Republican sweep, has sparked significant market and economic implications. Christophe Barraud, consistently ranked as one of the most accurate US economy forecasters by Bloomberg, shares his outlook for 2025: 📈 Economic Growth: GDP growth for 2025 is expected to exceed consensus forecasts, revised upward to 2.2%-2.3%, driven by a post-election sentiment boost, increased capital expenditures, and job creation. 💹 Inflation Risks: Inflation could average 2.5%, fueled by wage growth, labor shortages, and the impact of tariffs. These factors, combined with restrictive immigration policies, may add further upward pressure. ⚠️ Deficit Concerns: The fiscal deficit is approaching a critical threshold of 7.5%-8% of GDP. Crossing this mark could: Push long-term Treasury yields above 5%, increasing government debt servicing costs. Hurt the housing market, consumer and corporate borrowing, and stock market valuations. 💡 Policy Challenges: While tax cuts and pro-growth measures may stimulate short-term optimism, resistance within the Republican Party to ballooning deficits could moderate promises such as corporate tax reductions. Barraud’s analysis highlights the delicate balancing act ahead for policymakers, as rising yields and fiscal pressures could pose long-term challenges for the US economy. #economics #economy

Here's the reality of what a Trump Presidency would do to the US economy. 39 economists from across the board from sources such as the Wall Street Journal and Goldman Sachs (including 16 Nobel Prize winning economists) have outlined the devastating effects Trumps policies would have on the American economy. Ask yourself a question. Who would you rather trust to know about how economic policies would affect an economy. A self styled “stable genius” who has filed for Chapter 11 company bankruptcy 6 times and a man whose record as President did not Make America Great Again (whatever that has ever meant). His tax cuts never delivered the promised growth. His budget deficits surged. His tariffs and trade deals never brought back all of the lost factory jobs. You CANNOT win a Nobel Prize in Economics (or in anything for that matters) without being AN EXPERT. Here's what they've said about Trump/Harris economic proposals. Harris. Tax credit of $6k for newborns - 74% approval Raise corporate tax rate from 21% to 26% - 59% approval Cap insulin prices at $35 for all – 64% Cap out of pocket spending on prescription drugs at £2k for all - 53% Down payment assistance of $25k for first time homebuyers – 8% Penalize price gouging – 13% *note not ALL Harris proposals are met with approval. Trump Making his tax cuts permanent – 8% Universal tariffs of 20% - 0% Eliminate tax on social security benefits – 5% Projected change to GDP and inflation Harris GDP down 0.1% Inflation up 0.1% Trump GDP down 8.9% Inflation down 0.8% Just so you understand the significance of the GDP number. The financial crisis of 2007 saw GDP down BY HALF THIS NUMBER!!!!!!!!!! 7.9% of this number would be as a direct consequence of mass deportations which would take huge numbers out of the American workplace and companies would not be able to survive with no workers. Change in After-Tax Income (how much more money you'd have as a percentage) Bottom 20% of earners. Harris - up 13.6% Trump -down .6% 20% to 40% of earners. Harris – up 3.4% Trump – down .4% Top 95% to 99% of earners Harris – down 4.2% Trump – up 2.2% Top 100% of earners Harris – down 7.3% Trump – up 4.7%. So under Trumps proposals 95% of Trump MAGA hard core base would see their incomes reduced whilst at the same time the top earners in the country would see their incomes rise. But thats exactly what you expect from a capitalist party like the Republican party. Tax the poor. Don't tax the rich. Democrats believe in taxing the rich and not taxing the poor. National Debt (budget deficit). Kamala Harris's economic plans would add around $500 billion to the National Debt over 10 years. Trump's policies would add $3 trillion to the National Debt over 10 years. So there you have it. You have a choice between financial stability or financial anarchy. Vote Harris in November.

**Understanding Trump's Economy: Key Insights for High-Income Earners** Under the Trump administration, the U.S. economy experienced notable changes, revealing a different reality than promised. The major takeaways include slower growth, rising prices, and growing national debt. Here's what this means for high-income earners: **Slower Economic Growth:** The expected rapid GDP growth did not occur. Factors like global trade tensions and inconsistent policies led to decelerated economic performance, despite tax cuts aimed at boosting investment and consumption. **Rising Consumer Prices:** Tariffs on imported goods resulted in higher costs for both consumers and businesses. This inflationary pressure reduced the purchasing power of the average household, impacting discretionary spending and overall economic growth. **Growing National Debt:** Tax cuts, which mainly benefited higher income brackets, caused federal revenue shortfalls. Coupled with increased government spending, national debt levels soared to unprecedented heights. This fiscal imbalance poses a burden for future generations. For high-income earners paying over $500k in taxes annually, these trends signal a more uncertain financial environment. However, strategic tax planning can help you save significantly and optimize your income even amidst economic volatility. **Next Steps** Navigating these complexities requires expert guidance. **[Setup a call with us today](https://lnkd.in/gAa4dwUG to explore tailored tax-saving strategies. By understanding the current economic climate, you can take proactive steps to secure and enhance your financial future. Reach out to Together CFO and let's chart a course for a prosperous future today.

It's too early to predict the results of the election on inflation and the broader economy, but there are three areas investors should watch. Learn more in the article below, and reach out to see how we may be able to work together. Visit my website: https://lnkd.in/gqxrzYsG _____

IT’S THE SENILITY STUPID “The morning after the debate, new data showed a key inflation metric rising by the smallest amount since March 2021 — when inflation was a mere 2.6%. Wages are rising by more than prices, allowing workers to regain purchasing power lost to inflation. “The core of the economy is healthy and we anticipate growth will remain close to 2% over the rest of this year,” Oxford Economics reported on June 28. “The labor market is resilient, and with inflation pressures easing again, we expect real incomes and consumer spending growth to remain solid." A growing economy and low unemployment rate midway through an election year would normally make reelection a shoo-in for an incumbent president. Biden is likely to finish out his first term with no recession, the worst of inflation far behind, and the strongest job growth under any president in history. But polls and prediction markets now foretell a Biden defeat, for reasons having little to do with the economy. It's the senility, stupid.”