Joseph Matus, CFA
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Principal
Joe is a Principal in the Pennsylvania office. In his role in the Investment Office, Joe helps formulate the firm’s investment outlook. He supports advisors in portfolio construction with strategic and tactical asset allocations and delivers insightful research on economic and market developments. Joe also contributes to the firm’s manager research process, searching for best-in-class investment managers across traditional and private markets.
Prior to joining Cerity Partners, Joe served as an Analyst at Permit Capital Advisors, LLC. In that role, he contributed to all aspects of the research process, including due diligence on existing and new managers. Joe’s prior roles included investment research that spanned a range of asset classes, including equities, real estate, and alternative investments.
Economic and Market Outlooks
S&P 500 forward earnings are projected to surge 36% year over year—an unusually strong level normally seen only in post-recession recoveries—and while such rapid growth will inevitably decelerate, history suggests markets typically weather the slowdown well as long as earnings don’t materially decline into recession.
Economic and Market Outlooks
In his Jackson Hole speech, Fed Chair Kevin Warsh flagged AI’s growing but uncertain macroeconomic role, reaffirmed the 2% PCE inflation target, and offered an upbeat read on a resilient economy while implicitly signaling possible monetary tightening—prompting markets to price a September rate hike as the base case.
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