Weekly Market Snapshot – May 3rd, 2021
Created by: Sam Tenney
- GDP growth for first quarter 2021 has come in at 6.4% annualized growth, after a -3.5% decrease in 2020 GDP due to coronavirus. The Federal reserve has said it will continue its “ultra-easy” monetary policy however until employment aims have been met. Current GDPnow readings for second quarter are 13.5% annualized growth.¹
- Personal Income from all sources is up over 20% year over year, for the highest single year growth ever recorded. Income from government stimulus checks and unemployment benefits in March has brought the total up from 19 billion in personal income in March 2020, to 24.2 billion recorded this month.²
- During the Berkshire Hathaway shareholder meeting, Warren Buffet has said the company is seeing “substantial inflation” and that it “is almost a buying frenzy”. This is in contrast with the Federal Reserve statements that price increases are transitory and there will be no sustained inflation. ³
Please note by using any of the links provided for your convenience, you will be leaving Fidelis Wealth Advisors website. The hyperlinks are to websites and servers maintained by third parties. We do not control, evaluate, endorse, or guarantee content found in those sites. Your use of such sites is at your own risk.
This blog is general communication being provided for informational purposes only. This information is in no way a solicitation or offer to sell securities or investment advisory services. It is educational in nature and not to be taken as advice or a recommendation for any specific investment product or investment strategy. This does not contain sufficient information to support an investment decision. Any investment or investment strategy mentioned may not be suitable for all investors or in their best interest. Statistical information, quotes, charts, references to articles or any other quoted statement or statements regarding market or other financial information is obtained from sources which we believe reliable, but we do not warrant or guarantee the timeliness or accuracy of this information. All rights are reserved. No part of this blog including text, graphics, et al, may be reproduced or copied in any format, electronic, print, et al, without written consent from Fidelis Wealth Advisors, LLC. Fidelis Wealth Advisors does not provide legal or tax advice. Please be advised to consult with your investment advisor, attorney or tax professional before making any investment decisions.