After a promising start to 2023, Silicon Valley Bank’s failure in early March created a turning point in the Fed’s yearlong quest to quell inflation. Now it must resolve a trilemma — low inflation, full employment, and financial stability — in the face of an increased risk of a recession and the possibility that the recession may start sooner than anticipated.
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Amidst this harrowing market environment, we are taking active measures to safeguard client assets, providing support to navigate this time, and looking for opportunities to generate alpha in public and private markets.