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 December 29, 2020 - Jeff Gay, a certified Financial Planner with Miller and Gay Investment Management, reviewed the surprisingly strong market year and how the pandemic is expected to dominate the economic outlook in 2021. The financial package passed by Congress will provide support to small businesses with further action possibly in March and the Federal Reserve is expected to remain accommodative with short term interest rates remaining thru 2023. Jeff said that pandemic-related changes to the economy may be long lasting for many years, consumers have increasingly shopped online. That trend ramped sharply higher through the pandemic, leading to a surge in delivery and warehouse jobs. While residential housing is expected to remain strong, commercial real estate is likely to remain soft (except for warehousing). People may return to the office, but not fully, leading to reduced demand for office space. Though we may be at the beginning of the end, it is still not the end. |