Quarterly Review and Outlook Third Quarter 2025

Published on October 13, 2025

The combined effects of declining capacity utilization in the United States and globally, the inherently deflationary power of artificial intelligence (AI), the Federal Reserve’s deliberate monetary restraint, and the liquidity-draining impact of tariffs will serve to impede economic growth and decrease inflation through 2025 and beyond.

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Want to Reduce Your Portfolio Tax Impact? Active ETFs Can Help

October 13, 2025
As the Fall gets into gear, more and more investors and advisors will be considering their end of year tax bills. While markets saw plenty of uncertainty and upheaval so far in 2025, many will be facing significant tax implications on their gains.

Of Rate Cuts and Shutdowns

October 13, 2025
As we write this, the market’s reaction to the government shutdown in the U.S. has been little more than a shoulder shrug. That would seem a rational response, particularly if this shutdown is short-lived.