Cybersecurity and Data Protection

Last Wednesday, April 26th, Josh Garland and our guest speaker, Erin Donham, hosted a webinar on cybersecurity. We discussed best practices and how it is one of our top priorities at Apriem. If you missed our event last week, a replay has now been made available on our YouTube channel.

Market Update

The Federal Reserve moved forward with another 0.25% hike for the Month of May, bringing the benchmark range to 5.00% – 5.25%. This marked the 10th consecutive rate hike directed at bringing down inflation and the highest the federal funds rate has been since 2007. The unanimous decision follows the failure of First Republic Bank (FRC) on Monday – the second largest failure in history – with JPMorgan (JPM) picking up the discounted assets while also bringing some stability back to the banking sector. Markets seemed unsure of how to digest Jerome Powell’s comments, but much of what he said alluded to the FOMC (Federal Open Market Committee) considering a pause eventually. The Federal Reserve is stuck between a rock and a hard place: Do they save the banking sector, or do they bring down inflation? For the week, the S&P 500, Dow Jones Industrial Average, and Nasdaq are all down 1.77%, 2.05%, and 1.44%, respectively, as of today’s close.

Our next webinar is on Wednesday, May 31st, where our founder, Harmon Kong, CFP®, AIF®, will be covering behavioral finance. Be on the lookout for an email to register for this event. All of our past webinars are available to watch on our website. Click here for our webinar library.

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