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The Week Ending | May 15, 2020

Over the prior weeks, Katie and I have tried to sit down together each day and talk about all that is going on. Many times, this occurs on the front porch watching Francis play with his Paw Patrol characters. Last night, Katie and I were talking, and we commented how, for whatever reason, it seemed like people were a little more “down” this week than they had been during the week prior. While our families are healthy and safe, we know others are still directly feeling the effects of everything that is going on.

As I think you realize, I attempt to be a positive person and try and find the good in things. Katie and I started to think of “good news” from the past week. Within minutes, we had an entire list of events which brought joy and happiness to others and ourselves. Some examples were:

  • Katie’s mother celebrated being cancer free for 10 years
  • A client’s daughter is graduating from law school this weekend (4th generation attorney in the family)
  • A client sold a home freeing up both time and money to enjoy other more important things
  • A successful surgery for a friend’s child
  • Francis earned forty stickers for brushing his teeth, taking a shower, and going to bed peacefully each day. Thus the “Amazon” guy brought him a new Paw Patrol toy!

I know there is still so much unknown and worry about the future, however, do not forget the little things, the little celebrations, all the things which truly make life special.

No matter big or small, to you or to others, what do you have to celebrate this week?

Over the prior weeks, my role as a parent has changed in that I am spending more time trying to teach letters and numbers to Francis. He loves numbers and enjoys asking me to spell words to him. Why I bring up letters is it seems as if many people are teaching 3-year-olds today. Economists have various ideas about the shape of economic recovery and are using letters to explain potential outcomes. The Brookings Institute created and published a very good visual concerning economic recoveries. While this is not the Wheel of Fortune, could we have a V, U, Z, W or L shaped recovery? Since I have been watching ‘The Last Dance’ documentary about Michael Jordan, could we even have a Swoosh-Shaped recovery?

Time will tell what type of recovery we have, and it will take many months to be able to accurately describe the letter of the recovery. As the economy begins to open not only will we be following economic data, but also health data.

As measured by the S&P 500, the market was down approximately 2.26% this week. Much of the movement occurred Wednesday after comments by Federal Reserve Chairman Jerome Powell. Mr. Powell commented about the uncertain economic environment with the potential for additional downside risk. Due to this risk, he insinuated the Federal Reserve might need to do more to support the economy. As we continue into the economic unknown, we still believe there is the chance the market will have some downward pressure.

May your weekend be filled with good and I look forward to talking with you soon.


Chris Zeches, CFP®
Managing Partner