Get a deep dive into the fundamentals of the markets and what to expect in the new year from Ryan Detrick, Chief Market Strategist, and Sonu Varghese, VP, Global Macro Strategist, including insights like:

• The economy is on solid footing right now — thanks to strong income growth, solid household balance sheets and strong recent labor productivity growth – but that does not mean there are no potential risks.
• Fiscal policy could provide a tailwind in 2025. The 2017 Tax Cut and Jobs Act has several provisions that “sunset” at the end of 2025, but the odds of the economy going over a fiscal cliff from automatic tax increases on January 1, 2026, have been reduced to close to zero amid Republicans capturing a majority in both chambers of Congress and the presidency.
• President Trump has said his favorite word in the dictionary is “tariffs.” The threat of tariffs, and a retaliatory trade war, is clearly a hot topic. All else equal, tariffs will raise the price of imported goods (though it’s a one-time price level increase). But things don’t work as neatly as that. For one thing, it’s hard to predict what tariffs will actually be implemented, let alone their impact.