As we head into the year’s final month, the weather is cooling – and so is inflation. But the job market is still heating up.

That’s a recipe for more volatility…

On Thursday, the Federal Reserve reported inflation – as measured by the Personal Consumption Expenditures Price index (PCE) – rose by 0.2% in October.

That’s less than expected… it suggests inflation is cooling.

Stocks popped on the news.

The next day, the Labor Department reported that payrolls increased by 263,000 workers in November, and unemployment held steady at a low 3.7%. A strong job market suggests more inflation as workers have more to spend.

Stocks sank on the news.

Although the market finished the week in the green, the takeaway is clear: Expect more volatility as we close out the year.

I know that sounds like a broken record… but until the Fed can get inflation under control, the market will remain choppy.

To help you wade through these choppy waters, Daily editor Teeka Tiwari and his team have put together their playbook for 2023.

In it, you’ll learn his game plan for next year and three trends he believes will take off when the market cycle turns.

One trend is a rebound in crypto… and paid-up Palm Beach Letter subscribers can click here for the December issue of PBL and read more about the other two.

If you’re not a subscriber, click here to learn how to become one. (You’ll also learn about one of Teeka’s favorite asset classes. Hint: It’s not crypto.)


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Chaka Ferguson
Editorial Director, Palm Beach Daily