How Will the Deficit Affect the Stock Market? November 16, 2020 Investing Print https://www.adviserinvestments.com/wp-content/uploads/qw1020-how-will-the-deficit-affect-the-stock-market.mp3 We’ve heard growing concerns from clients about the size of the U.S. budget deficit curtailing the economic recovery. Chief Investment Officer Jim Lowell responded to this concern in our recent webinar,* Looking Beyond the Election to the Recovery’s Future. Please enjoy the excerpt below and click here for the full webinar replay to hear more. * * * * * Jim Lowell: In terms of the budget deficit and its size, it’s absolutely something that has been a source of steady concern, not just over the past year, not just over the past few years, but quite literally for decades. I would say that the argument right now is almost purely academic and theoretical, so we can punt it down the road. Because if we don’t see successive rounds of stimulus, both from the Federal Reserve, fiscal stimulus, maybe even more furlough-related kinds of stimulus, then I think that puts this slow-recovery, not no-recovery mode that we’re in in jeopardy. A lack of stimulus would crimp the necessary infrastructure spending. By which we mean, not just the roads, bridges, sewer systems, but the hard asset kinds of infrastructure that we absolutely need to repair not just locally, but nationally. We’re also hopeful that we’ll see infrastructure spending on the technology superhighway. One of the things that the coronavirus has clearly demonstrated to us as a country is that, in order to create equal opportunity for all, we have to do a significantly better job at creating equal access to technology for all. So, we’re hopeful that that will in fact manifest itself. * * * * * Click here for a replay of Looking Beyond the Election to the Recovery’s Future. Please contact us at (800) 492-6868 to learn more about comprehensive wealth management solutions. *Webinar recorded after the market closed on Wednesday, October 28, 2020. Disclaimer: This material is distributed for informational purposes only. The investment ideas and opinions contained herein should not be viewed as recommendations or personal investment advice or considered an offer to buy or sell specific securities. Our statements and opinions are subject to change at any time, without notice and should be considered only as part of a diversified portfolio. Mutual funds and exchange-traded funds mentioned herein are not necessarily held in client portfolios. Data and statistics contained in this report are obtained from what we believe to be reliable sources; however, their accuracy, completeness or reliability cannot be guaranteed. You may request a free copy of the firm’s Form ADV Part 2A, which describes, among other items, risk factors, strategies, affiliations, services offered and fees charged. Past performance is not an indication of future returns. Tax, legal and insurance information contained herein is general in nature, is provided for informational purposes only, and should not be construed as legal or tax advice, or as advice on whether to buy or surrender any insurance products. Personalized tax advice and tax return preparation is available through a separate, written engagement agreement with Adviser Investments Tax Solutions. We do not provide legal advice, nor sell insurance products. Always consult a licensed attorney, tax professional, or licensed insurance professional regarding your specific legal or tax situation, or insurance needs. © 2020 Adviser Investments, LLC. All Rights Reserved.