Maureen Kelliher of Cambridge Trust Company gives the ECEPC an economic forecast
Maureen Kelliher’s talk couldn’t have come at a better time. Just a day after crude oil plummeted below $27 a barrel and the Dow was down as much as 565 points, Kelliher, senior vice president and investment officer at Cambridge Trust Company, told Essex County Estate Planning Council members a “tale of two economies,” and offered some economic insight for the coming year at the group’s Jan. 21 breakfast meeting at Spinelli’s in Lynnfield.
While the business sector is growing at its slowest rate in years, consumer spending is on the rise. And this, Kelliher indicated, provides a bright spot for 2016.
Though markets will continue to be volatile until oil prices stabilize, Kelliher said, “The consumer will be able to sustain the economy here in 2016.”
This is welcome news at a time when there is some uncertainty surrounding global growth and a presidential election looming in the not-so-distant future.
During her talk, Kelliher discussed the global economy, the future of oil and the movement of the U.S. dollar, among other topics. She also answered member questions about economic uncertainty and about how to advise clients during times of instability. Kelliher said she asks clients these questions:
- What allocations can you afford?
- What can you withstand?
- What is below what you think you can withstand?
For more information about Maureen Kelliher’s presentation to the ECEPC, please contact Michelle Xiarhos Curran at firstname.lastname@example.org. This event was sponsored by Cambridge Trust Company. We’d also like to thank our Elite Annual Sponsor, Care Dimensions.
Please join the Essex County Estate Planning Council for its next event on Feb. 23. Dave Edwards, president and CEO of Essex County Community Foundation will discuss Charitable Giving as Part of an Estate Plan. Click here for more information about this Lunch & Learn event, which will take place at ECCF offices in Danvers at noon. Lunch will be provided by ECCF.