2025WEALTHOUTLOOKgrowthamiddiscord:strategiesfora“rule-breaking”expansionwherewealthhappensINVESTMENTPRODUCTS:NOTFDICINSURED·NOTCDICINSUREDNOTGOVERNMENTINSURED·NOBANKGUARANTEE·MAYLOSEVALUEWEALTHOUTLOOK2025forewordWelcometoWealthOutlook,oursemiannualflagshipreportexploringkeyeconomicandmarkettrendsforyourportfoliointhecomingyearandbeyond.IamgratefultoStevenWieting,ourChiefEconomistandChiefInvestmentStrategist,andthecolleaguesworldwidewhohavecontributedtheirinsights.Weseetheglobaleconomyashaving“brokentherules”inrecentyears,givenitscontinuedgrowthdespiteusuallyreliablerecessionsignalsintheU.S.andelsewhere.Consideringthepaceofinnovation,productivityga...
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