Northern Trust Wealth Management’s chief investment officer is optimistic about the U.S. economy’s trajectory and doesn’t view inflation as a persistent concern.
Despite a few economic reports that could cause worry, including a weaker-than-expected third-quarter GDP report last week, and a handful of unimpressive third-quarter corporate earnings reports, Katie
Northern Trust’s CIO, sees mostly good news.
Third-quarter earnings are delivering “strong, strong beats across the board,” Nixon says, which is notable in the face of slower third-quarter growth and the resurgent pandemic from that period. The reports that are less-than-stellar, such as those delivered by the tech giants, including
Apple, last week, were about supply constraints—not a lack of consumer demand, Nixon says.
“That’s healthy,” she says. “It’s…