Consumer confidence is waning, and while an economic soft landing was anticipated by many economists following the Federal Reserve’s slew of rate hikes to fight inflation, it no longer seems likely. Instead, intensifying rumblings of a recession, and now stagflation, are taking its place. GDP growth slowed in quarter one, and while in 2023 there was talk of the Federal Reserve starting to make rate cuts in 2024, that does not appear to be happening any time soon. Unemployment remains historically low. Credit card debt and delinquencies are soaring, and personal savings rates are at all-time lows. The effects of inflation and high interest rates seem to be catching up with us. Global tensions remain high with the Russia-Ukraine and Israel-Hamas wars. Oil prices are at $81/barrel.