By Stef Dolan on August 10, 2023August 10, 2023 Over the last several days, Great Valley Advisor Group’s Chief Market Strategist, Eric Parnell, CFA, attended Camp Kotok. The event was hosted by David R. Kotok, Chief Investment Officer of Cumberland Advisors, in conjunction with the Global Interdependence Center. Camp Kotok extends their exclusive invitation to a global group of economists, wealth managers, traders, heads of research, financial luminaries, journalists, and authors providing a safe venue for honest, vigorous conversation and debate. This annual event, held in remote Grand Lake Stream, Maine, is in its 33rd year, and guests have included governors, members of Congress, and Federal Reserve Bank Presidents. The nature of the remote location encourages fishing (of course!), but also dynamic conversations focused on markets, the global growth outlook, the future path of interest rates, virtual currencies, the rise of artificial intelligence, and the shift toward deglobalization. Attending guests have varying political views, and Camp Kotok participants are proud of the robust, yet civil conversations that take place. Eric thoroughly enjoyed his experience at the 33rd Annual Event and took away the following snippets to share. Interest rates are likely to stay higher for much longer than the market is currently forecasting, as inflationary pressures remain sticky even amid slowing economic growth. The Federal Reserve should be taken at their word when it comes to monetary policy – don’t overthink it. The impact of Artificial intelligence is likely being vastly overestimated in the short run, but also underestimated in the long run. A paradigm shift has taken place in China that the market has yet to fully understand. The rise in global populism has the potential to result in slower economic growth, higher inflation, and increased poverty in many parts of the world. Eric will share more detail on these points and more in his latest weekly Economic & Market Report. Securities offered through LPL Financial, member FINRA/SIPC. Investment Advice offered through Great Valley Advisor Group, a Registered Investment Advisor and separate entity from LPL Financial.. The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. The economic forecasts set forth in this material may not develop as predicted, Eric Parnell is solely an investment advisor representative of Great Valley, and not affiliated with LPL Financial. Any opinions or views expressed by Eric Parnell are his/her own and are not those of LPL Financial.