The U.S. economy is still growing, but the growth rate is slowing. Unemployment remains low, and though inflation is still too high, it is slowing. The Federal Reserve is expected to make another rate hike next week to continue its fight against inflation. The series of interest rate hikes are still expected to catch up to consumers and eventually result in a recession later in the year. The banking industry remains turbulent, with First Republic being the most recent failure, and fears of contagion loom. Though post-Covid supply chain issues aren’t perfect, they have improved and are expected to continue in this direction. Global tensions persist with Russia’s invasion of Ukraine. Oil prices are at $77/barrel.