July's Federal Reserve meeting minutes revealed plans to start tapering before the end of this year which raised concerns over persistent COVID-19 variants impacting global growth. Sector Strategist, Denise Chisholm, discusses what this means for the economic recovery. Denise notes that the Delta variant may have less of an impact than investors think. Denise says there are higher income levels and higher growth in this cycle. She notes that historically companies will invest to the extent that there is growth. Denise also discusses investor sentiment noting that investors are back in the bottom quartile levels, which has been a result of the delta variant news. Sentiment tends to correct relatively quickly and there is not as much correlation to consumer sentiment and spending.

Recorded on August 19, 2021.

Transcript (PDF): https://www.fidelity.ca/cs/Satellite/doc/transcript-podcast-chisholm-sector-watch-19aug.pdf