Reactions to Fed Signals

Each week, the Stokes Family Office staff puts together a list of our favorite news and updates on all things wealth management. From financial planning, portfolio construction, tax and estate planning, retirement plan services to anything we found interesting.  Enjoy this week’s curated list for your weekend reading!

ECONOMY NEWS

Diffusion – Geographic, Indicator

• Econ Browser: Mark Zandi states that a third of the country is in recession. Here are some alternative ways of measuring the weakness in the economy: first by geography, second by indicator.

The Evidence That AI Is Destroying Jobs For Young People Just Got Stronger

• Derek Thompson: A big debate with bigger implications for the future of work, technology, and the economy

Fed Chair Powell: It’s a ‘Challenging Situation’

• Sam Ro: “I’ve held the view that whether or not the Fed cuts rates is not the right question. That’s because rate cuts and rate hikes — in and of themselves — aren’t the real issue. Rather, they represent reactions to real issues.”

Related:

• • • Investing in the Future With Demographic Change
    • AI’s Job Effect, US Oil, & Dividend Growth Stocks
    • Jobs, Tariffs, & IPOs
    • Trade Deals, Tariffs, & Housing

MARKETS NEWS

Is this 1996 or 1999?

• Ben Carlson revisits Alan Greenspan’s landmark December 1996 speech, where the Federal Reserve Chair asked how to recognize when “irrational exuberance” might be inflating a bubble. Carolson notes growing concerns about whether today’s investing environment mirrors that late‑’90s bubble.

The Appeal of Small-Cap Stocks

• Scott Grannis: Powell’s latest signals of easing may mark the beginning of a meaningful rotation back to smaller companies.

The Best vs The Worst

• Callum Thomas: The best stocks now look the worst, and the worst now look the best. Here is a look at why and what to watch for on the bullish vs bearish pathways from here.

Related:

• Stokes Family Office Ranked Top RIA Firm by Financial Advisor Magazine For Third Consecutive Year
• SFO Quarterly Review: Q2 2025

CHART OF THE WEEK

Ben Carlson looks at the human toll of artificial intelligence. He writes, “Many of these college students are nervous. They see what’s coming with AI and what it might mean for entry-level jobs. They know because they’re the biggest users of AI. Look at what happened to ChatGPT usage when college ended for the year. https://lnkd.in/eKQHDhGY

Stokes Family Office is 100% Family Owned, and has been continually operating in the New Orleans Area for over 35 years.  As a family office, we are focused on family wealth, financial planning, and tax planning. We are your local experts for Gulf South wealth management. Want to hear more from our team? Check out the Lagniappe Podcast.