Regardless, our economists emphasize that an “era of sound money,” with interest rates above the rate of inflation, remains intact. Equity valuations are stretched, making certain segments of the U.S. stock market potentially vulnerable, but there are reasons to believe stocks’ strong run can continue a bit longer
Vanguard economic and market outlook for 2025: Global summary
The global outlook summary highlights the top-level findings of Vanguard’s full economic and market outlook, Beyond the Landing, to be distributed in mid-December.
Beyond the landing: Vanguard’s outlook for 2025
Positive after-inflation returns will likely prevail, but tension grows between momentum and valuation for equities.
Joe Davis: Beyond the Landing
In this short video, Vanguard’s global chief economist discusses the economic and market outlook for 2025