Hello, this is James Mayer, Branch manager for the Huffman Mayer Paolo Wealth Management group of Wells Fargo advisors.  As tax season is coming to an end we are bringing back our annual Shred- It Event.


JAMES: Thomas, who is bothering us during our video shoot?

KRISTEN: Hey neighbor, I need a favor.

JAMES: Hey it’s Kristen Executive Director of the United Way of Ashtabula County. What favor do you need?

KRISTEN: I wanted to see if you had any glitter, we just ran out!

JAMES: Glitter?? We are a investment planning team, we don’t put glitter on retirement plans…What do you need glitter for anyway?

KRISTEN: Well I’m making Save the Date cards for our...

JAMES: Shhh Kristen it was supposed to be a surprise!

KRISTEN: Oh James just tell them already!

JAMES: Well everyone we are excited to announce that we are cohosting this year’s Shred It Event with United Way of Ashtabula, located at 3705 State Rd, Ashtabula, OH. Our lovely neighbor here Kristen Kitchen will be attending the event with us. If you would like to come and show support for the United Way of Ashtabula you can do so on April 30th between 9am and 12pm. While it is not required to donate, if you wish to do so UWA will be accepting any and all donations. 

Now let’s go to Phil Anderson for this month’s edition of The Market Recap. Take it away Phil!

Thanks, James.

Interest Rates – To no one’s surprise, the Fed’s Board of Governors announced a 0.25% rate increase after its March meeting. In an article written by the NY Times, the Fed now projects six additional rate increases during 2022. According to commentary from Chairman Powell: “The economy no longer needs – or wants – a very highly accommodative stance” (meaning low interest rates). 

Down & Out – Russia’s economy has been severely impacted by sanctions and its removal from the global banking system. Estimates suggest that since the invasion began, Russian’s ten wealthiest citizens have lost close to 1/3 of their net worth. According to a list published by the Yale School of Management, over 400 companies have announced their withdrawal from Russia since the occupation of Ukraine began, with many more reducing activity or making a gradual withdrawal of operations.

Overseas Recovery – According to FactSet, during 4Q21 earnings season, companies with the majority of their sales and earnings outside of the U.S.A. grew faster than “majority U.S.” companies. Among those companies reporting over 50% International sales, sales grew by 23.4% vs. the prior year, which was 10.2% faster than the majority U.S. companies grew. The earnings story was similar, with majority foreign companies outgrowing their majority U.S. counterparts by 6.3%. 

And finally, a few interesting facts, courtesy of  the April, 2022 edition of Harper’s Magazine: 

- Portion of U.S. adults who have struggled with basic decisions like what to eat or wear since the start of the pandemic: 1/3

- Portion of U.S. millennials: 1/2
Minimum number of TikTok views for videos tagged with #MentalHealth: 25.1 billion.

- Portion of U.S. pet owners who say they take their pet’s health more seriously than their own: 7/10

- Minimum number of U.S. dogs on anti-anxiety medication: 10.35 million

Thanks Phil!

We always want to talk to you… If someone you know would benefit or enjoy one of these videos please feel free to share them the link.

As always stay happy, safe, and healthy and hopefully we will see you very soon.

Wells Fargo Advisors is not a legal or tax advisor. This information is made available with the understanding that Wells Fargo Advisors and its affiliates are not engaged in rendering legal, accounting or tax advice.

The opinions expressed here reflect the judgment of the Huffman Mayer Paolo Wealth Management Group as of the date of the video and are subject to change without notice. Any market prices are only indications of market values and are subject to change. The material has been prepared or is distributed solely for information purposes and is not a solicitation or an offer to buy any security or instrument or to participate in any trading strategy. Additional information is available upon request.

© 2022 Wells Fargo Clearing Services, LLC. All rights reserved.

FINRA’s BrokerCheck Obtain more information about our firm and its financial professionals

FINRA’s BrokerCheck Obtain more information about our firm and its financial professionalsX