2023 Mid Year Update

Welcome to the 2023 Mid Year Update. In our original Outlook 2023 report, we assessed economic and market conditions coming into the new year with a cautionary perspective.  The macro headwinds in 2022 were very real and generally hostile. We had the highest inflation in 40 years, with the most aggressive monetary tightening campaign in decades. We also had the war in Ukraine, political upheaval, and the collapse of the crypto ecosystem, among many other problems.