Economic & Market Outlook. PeoplesBank Wealth Management is a division of Orrstown Bank.
“The hardest thing to do in baseball is to hit a round baseball with a round bat, squarely”
― Ted Williams
As we near the midpoint of this baseball season, traditionally marked by the annual All-Star game, a quote by Ted Williams about hitting comes to mind. Williams, arguably one of the greatest hitters in baseball history, was the last player to hit over .400 in a season, a feat he accomplished in 1941.
The Federal Reserve (the Fed) is attempting to achieve an economic soft landing—slowing the economy just enough to curb inflation without triggering a recession—using the round bat of monetary policy. Much like in baseball, hitting this target “squarely” has proven challenging. However, the Fed acknowledges that there has been modest progress.