GRAND RAPIDS, Mich. (WOOD) — Last week was a very active week for the U.S. economy and the investment markets.
Legacy Trust Senior Vice President Steve Doorn said it’s been a year of uncertainty but history shows it pays to stay invested.
Doorn says the economy remains healthy but the uncertainty lies with the Federal Reserve, as it hikes interest rates to try and slow down inflation.
He encourages patience, since it may take some time for things to work its way through the economy. What they’re doing today won’t meaningfully impact the economy until next year.
He said at some point, it may become a buyers’ market, but says right now sellers are in control. As for people keeping an eye on their retirement and investment accounts, Doorn said it’s a good time to assess your risk tolerance and revisit decisions you’ve already made to make sure your investments are appropriate for your goals.
For the full conversation with Legacy Trust Senior Vice President Steve Doorn, watch the video in the player above.