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Our Investment Views
Emilie Ma
Investment Strategy Video: Inflation's Flame ...

George Hosfield, CFA, discusses Ferguson Wellman's quarterly strategy titled, "Inflation's Flame Flickers," which addresses the narrow market leadership, the impact of higher interest rates on inflation and how assets are priced at this stage of the economic cycle.

Investment Strategy Video: Inflation's Flame Flickers
Our Investment Views
Guest User
Investment Strategy Video: Stalemate

George Hosfield, CFA, discusses the firm's quarterly strategy titled "Stalemate," which highlights the Fed's ongoing battle to tame inflation along with our views on the health of the banking industry and capital market expectations for the balance of the year.

Investment Strategy Video: Stalemate
Our Investment Views
Guest User
Third Quarter 2022 Investment Strategy Video: ...

Director and Chief Investment Officer George Hosfield, CFA, discusses the Fed raising interest rates, peaking inflation and our view on equities and volatility across all asset classes in our Investment Strategy titled, “Balancing Act.”

Third Quarter 2022 Investment Strategy Video: Balancing Act
Annual Report
Mary Faulkner
2021 Annual Report

2021 Annual Report

2021 Annual Report
Wealth Management
Guest User
First Quarter 2022 Wealth Management Insights ...

Mary Lago, CFP®, CTFA, discusses the theme for the first quarter of 2022, “Valuing the Resources of Time and Money.”

First Quarter 2022 Wealth Management Insights Video: Valuing the Resources of Time and Money

CPI

Data vs. Drama: The Real Economic Story

Data vs. Drama: The Real Economic Story

After a 20% rebound from its April 7 lows, the S&P 500 is positive for the year, marking one of the most significant short-term comebacks in market history. The market rallied on Monday following weekend news about tariff negotiations with China. In a complete reversal from the earlier “Liberation Day” tariff announcement, the punitive 145% tariff rate on Chinese goods was reduced to 30%, with a 90-day pause implemented. In response, China lowered its retaliatory tariff rate on U.S. goods from 125% to 10%.

Investment Strategy Second Quarter 2025

Investment Strategy Second Quarter 2025

While market volatility has been highly-elevated in recent weeks with the almost daily change in the proposed tariff landscape, in this quarter’s investment strategy video we endeavor to provide a measured perspective on what lies ahead and how navigate the psychology of investing.

Falling Snow, Rising Inflation

Falling Snow, Rising Inflation

This week, Portland residents braved the cold to venture outside and watch snow blanket the city. In contrast, January's inflation data was seemingly the opposite, rising higher month-over-month and year-over-year. While the snowfall might have been a pleasant surprise for some Oregonians, this inflation data was anything but for most investors and consumers.

New Year, Same Fluctuating Economy

New Year, Same Fluctuating Economy

Lately, clients have been asking us one question: how are longer-term bond yields moving higher when the Federal Reserve is cutting interest rates?

Time to Pivot

Time to Pivot

On Wednesday, the last significant economic data release occurred before the Federal Open Markets Commitee (FOMC) meeting next week. Overall, inflation appears to be tamed with the August Consumer Price Index (CPI) falling to a 2.5% growth rate compared to a year earlier, hitting a new three-year low.

Rotation

Rotation

Since the release of the Consumer Price Index (CPI) on July 11, the stock market has experienced a noticeable shift in leadership as the inflation rate continues to move toward the Fed’s target of 2%. Investors have been moving away from technology stocks, which have been the darlings of the market this year, towards small-cap and value stocks.

Fiscal Irresponsibility

Fiscal Irresponsibility

We frequently receive questions from clients regarding the sustainability of U.S. government debt. According to the U.S. treasury, the American government has run a budget surplus only four times in the last 50 years, with the most recent being in 2001.

Hawks vs. Stocks

Hawks vs. Stocks

It was an action-packed week headlined by Wednesday’s economic “doubleheader.” The Federal Reserve’s June meeting took place the same day as the release of the Consumer Price Index (CPI) inflation report.

Vibecession

Vibecession

The summer season is fast approaching, and this typically brings feelings of excitement and relaxation; a time of year that many people spend months looking forward to. However, these positive feelings may not translate to all facets of life.

Why Does Everything Feel So Expensive?

Why Does Everything Feel So Expensive?

Last weekend, as my kids played in the park, a fellow dad struck up a conversation. During our talk, he sighed and asked, "Everything feels so expensive these days, doesn't it?" I’ve heard this sentiment frequently, from friends, family and clients who have expressed curiosity about the rising costs of everyday goods and services. While many individuals are feeling the strain on their finances, inflation measures, such as the Consumer Price Index (CPI), appear to be trending downward, showing a rosier economic picture. So why are people feeling the pinch?

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Is 3% the New 2%?

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Is 3% the New 2%?

The Consumer Price Index (CPI) is a measure of goods and services prices across the economy, and a popular gauge of inflation. The headline CPI rose 3.5% in March from a year earlier, which was higher than economists had forecast and an increase from February’s 3.2% reading. The Core CPI, which excludes the volatile food and energy components, also rose more than expected, with medical care and auto insurance boosting the non-housing service prices.

Norris Interviewed by KXL Radio

Jason Norris, CFA, recently spoke with KXL Radio about the recent increase to the Consumer Price Index.

This one-minute interview can be heard below.

Disclosures

Giving Thanks (And Talking Drama)

Giving Thanks (And Talking Drama)

The holiday-shortened week was chock full of drama … all centered around both the market’s current mania (artificial intelligence) and the market’s favorite pandemic era mania (cryptocurrency). A strong third quarter earnings season, favorable inflation data and a moderation of long-term interest rates have all contributed to a stellar month for the stock market which is now within 5% of its all-time high, which was reached in December 2021. We will all be giving thanks if recent momentum continues into the end of the year.  

Early Holiday Cheer

Early Holiday Cheer

Further evidence of slowing inflation amid moderating retail sales lent additional credence to the economic soft landing narrative this week, exactly 18 months after the Federal Reserve began raising interest rates to combat high prices. Meanwhile, retailers book-ended third quarter earnings season in generally encouraging fashion, putting finishing touches on a surprisingly upbeat reporting period that now tallies positive revenue growth for the S&P 500 and over 6% earnings per share expansion.

Mixed Signals

Mixed Signals

Spooky season was in full force this week with contradictory messages from the economy versus the stock market. The week was chock-full of news with over 40% of the S&P 500 market capitalization reporting third quarter earnings, the release of third quarter economic growth, and finally, fresh data on the Fed’s preferred measure of inflation, the Personal Consumption Expenditure Index.

Seasons Change But History Remains

Seasons Change But History Remains

As the seasons change and we move into fall, the focus shifts from summer vacation to back to school and football. And just like the calendar, the markets stay true to history. The S&P 500 is down over 3% this month, led by technology stocks which are down 7%. While there is some angst, these declines are normal.

Is China's Economic Dream in Trouble?

Is China's Economic Dream in Trouble?

Gracing the cover of Time Magazine in 2017, famed political author and Eurasia Group founder, Ian Bremmer claimed “China Won.” This statement was not necessarily controversial, as economists and political pundits all but guaranteed a new age of geopolitical and economic dominance led by the fast-growing nation.

The Pulse on Healthcare Inflation

The Pulse on Healthcare Inflation

The economic data released month after month follows a rhythm we have become quite accustomed to, and the Consumer Price Index (CPI) release is an integral part of this familiar cadence. July’s CPI report showed U.S. inflation rose 3.2% in July from a year earlier.

Hop, Skip and a Jump?

Hop, Skip and a Jump?

At Ferguson Wellman, we are nearing the end of our Mid-Year Update events season, where we present updates to our yearly Investment Outlook and deepen our connections with clients and the community.

Changing of the Guard

Changing of the Guard

In an otherwise quiet week on Wall Street, the benchmark S&P 500 turned the page on one of its longest-running bear markets. Rebounding by over 20% from its October lows, the blue-chip index has officially surpassed the threshold marking a new bull market. What is notable about the advance from last fall’s lows is how few stocks have participated in the upturn.