Discussing the new Infrastructure Bill and the immediate effects on the economy with Wealth E&P
November 16, 2021
Welcome to Wealth Enhancement & Preservation’s Market Minute, where we get to update you on everything that happened in the financial markets this past week. My name is Jake Sanders, and I am a partner at Wealth E&P and operate as a Wealth Advisor and Certified Financial Planner.
Last week, for the first time in six weeks, we saw a small decline in the S&P 500. The index was down 0.27%, so it was not a significant decline, but it was a departure from the previous five weeks where we enjoyed positive returns.
This week we're watching President Biden’s signing of the Infrastructure Bill and what will come of it. This bill is over $1 trillion, included in that is $550 billion of new spending, on top of the over $450 billion that they were already going to spend on roads, bridges, and other things.
There is going to be a President Biden spending plan on his environmental initiatives, public transit, and things like that, in addition to a lot of things that we're probably not even sure about. It's a huge price tag, but I will say that it's less than the $3 trillion+ bill that was originally proposed, which is probably a positive.
What's most important is – how does this affect your portfolios? I'll say right now that our All-Weather scoring is still positive, being that we're 40 out of 40. We are watching this daily, and if anything in the Infrastructure Bill or something around changes that, we will make the necessary and appropriate adjustments inside of your portfolio.
One thing in particular we're talking about is interest rates and inflation. Darrin Cohen, Wealth E&P’s CEO, discussed this last week and we're going to continue covering that next week. If you have questions on any of that, if you'd like to come in and talk to us, or if you’d like to reach out for any other reason, we'd be more than happy to chat with you. Please feel free to reach out or visit www.wealthep.com. Otherwise, stay tuned for our Market Minute next week!
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