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Episode 018: Welcome to "Markets with Megan," where Megan Horneman, the Chief Investment Officer at Verdence Capital Advisors, provides insightful economic analysis. In this episode, we dive into a Supreme Court decision that has significant implications for economic growth throughout the year. The Supreme Court recently overturned Biden's student loan forgiveness program, affecting approximately 40 million Americans carrying a staggering $2 trillion in student loans. Join us as we explore the impact of this decision on individuals and the economy as a whole.
With the program no longer in effect, student loan borrowers will have to resume paying an average of $500 per month, a substantial financial commitment. This change is likely to take effect later this summer, causing young Americans and anyone with student loans to adjust their budgets accordingly. In fact, our calculations suggest that this shift in repayment could potentially shave off half to one percent of the GDP.
The consequences extend beyond individual borrowers. From a consumer standpoint, we anticipate a decrease in discretionary spending, leading to implications for various sectors. For instance, we have observed declines in apparel and luxury goods within the stock market, reflecting market expectations of reduced consumer spending.
Moreover, we are already witnessing a softening in personal spending, even prior to the implementation of the student loan repayment. This adds further concerns regarding economic growth for the remainder of the year.
Stay tuned as we closely monitor the developments and provide you with updated information. If you have any questions, feedback, or comments, please don't hesitate to reach out to us at [email protected]. Thank you for joining us on this episode of "Markets with Megan."
https://youtu.be/u--vCsj9MNY
Disclaimer: material was prepared by Verdence Capital Advisors, LLC (“VCA”). VCA believes the information and data in this document were obtained from sources considered reliable and correct and cannot guarantee either their accuracy or completeness. VCA has not independently verified third-party sourced information and data. Any projections, outlooks
or assumptions should not be construed to be indicative of the actual events which will occur. These projections, market outlooks or estimates are subject to change without notice. This material is being provided for informational purposes only and is not intended to provide, and should not be relied upon for, investment, accounting, legal, or tax advice. Past performance is not a guarantee of future results. Different types of investments involve varying degrees of risk, and there can be no assurance
that the future performance of any specific investment, investment strategy, or product or anynon-investment related content, made reference to directly or indirectly in these materials will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful. You should not assume that any
discussion or information contained in this report serves as the receipt of, or as a substitute for, personalized investment advice from VCA. Due to various factors, including changing market conditions and/or applicable laws, the co...
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Episode 018: Welcome to "Markets with Megan," where Megan Horneman, the Chief Investment Officer at Verdence Capital Advisors, provides insightful economic analysis. In this episode, we dive into a Supreme Court decision that has significant implications for economic growth throughout the year. The Supreme Court recently overturned Biden's student loan forgiveness program, affecting approximately 40 million Americans carrying a staggering $2 trillion in student loans. Join us as we explore the impact of this decision on individuals and the economy as a whole.
With the program no longer in effect, student loan borrowers will have to resume paying an average of $500 per month, a substantial financial commitment. This change is likely to take effect later this summer, causing young Americans and anyone with student loans to adjust their budgets accordingly. In fact, our calculations suggest that this shift in repayment could potentially shave off half to one percent of the GDP.
The consequences extend beyond individual borrowers. From a consumer standpoint, we anticipate a decrease in discretionary spending, leading to implications for various sectors. For instance, we have observed declines in apparel and luxury goods within the stock market, reflecting market expectations of reduced consumer spending.
Moreover, we are already witnessing a softening in personal spending, even prior to the implementation of the student loan repayment. This adds further concerns regarding economic growth for the remainder of the year.
Stay tuned as we closely monitor the developments and provide you with updated information. If you have any questions, feedback, or comments, please don't hesitate to reach out to us at [email protected]. Thank you for joining us on this episode of "Markets with Megan."
https://youtu.be/u--vCsj9MNY
Disclaimer: material was prepared by Verdence Capital Advisors, LLC (“VCA”). VCA believes the information and data in this document were obtained from sources considered reliable and correct and cannot guarantee either their accuracy or completeness. VCA has not independently verified third-party sourced information and data. Any projections, outlooks
or assumptions should not be construed to be indicative of the actual events which will occur. These projections, market outlooks or estimates are subject to change without notice. This material is being provided for informational purposes only and is not intended to provide, and should not be relied upon for, investment, accounting, legal, or tax advice. Past performance is not a guarantee of future results. Different types of investments involve varying degrees of risk, and there can be no assurance
that the future performance of any specific investment, investment strategy, or product or anynon-investment related content, made reference to directly or indirectly in these materials will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful. You should not assume that any
discussion or information contained in this report serves as the receipt of, or as a substitute for, personalized investment advice from VCA. Due to various factors, including changing market conditions and/or applicable laws, the co...
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