How Personal Savings Affect the Economy

2024 was a year of unexpectedly strong market performance. Major stock market indices generated historic gains with the S&P 500 returning 25.0% with dividends, the Nasdaq 29.6%, and the Dow Jones Industrial Average 15.0%. This occurred despite concerns around inflation, recessions, Fed policy, and the presidential election.

The 19th century author Balzac wrote that “our worst misfortunes never happen, and most miseries lie in anticipation.”