It’s been another interesting year in the world of personal finance and macroeconomics. As we look ahead to 2026… well, who really knows what’s coming?
I’ll be sharing my own take—and making a few predictions—in an upcoming episode.
What’s hard to ignore is just how unusual this moment in history is. We’re coming off COVID. We went through a rapid rise in interest rates, and now a pullback. Tariffs are back in the conversation. There are a lot of moving parts, and as usual, the consensus hasn’t exactly nailed it.
Almost every expert was convinced tariffs would push inflation higher. I expected at least a temporary bump—some transient inflation while markets adjusted.
Then the CPI report came out at 2.7%.
That’s a lot closer to the Fed’s 2% target, and nearly half a percentage point lower than expectations. Clearly, something else is going on.
At the same time, GDP came in at around 4.3% growth. That’s real strength. Inflation is coming down, growth is strong, and while the labor market is still a little murky, there’s no question there’s underlying momentum in the system.
Investors haven’t quite felt it yet. It’s been a sticky environment. But my sense is that we’re getting closer to a shift—more liquidity, more money in the system, and markets that may start moving meaningfully again.
Of course, we’ll see how it all plays out.
For this episode, my producer Phil pulled together some of the highlights from the show in 2025—a look back at the conversations and ideas that stood out in a year when the data kept surprising just about everyone.
I hope you enjoy it.
And again, happy holidays. Merry Christmas, and Happy New Year.
Transcript
Disclaimer: This transcript was generated by AI and may not be 100% accurate. If you notice any errors or corrections, please email us at phil@wealthformula.com.
Welcome everybody. This is Buck Joffrey with D Wealth Formula Podcast, coming to you from Montecito, California and, uh, want to wish you, first of all, a happy holidays. Merry Christmas, happy new Year, all that. And, uh, yeah, it’s been, uh, it’s been another, uh, another interesting year in the world of personal finance and macroeconomics is what, what we talk about on the show.
And as we look forward to 2026, gosh, who knows what’s gonna happen, right? Uh, well I’ll give you my take in, uh, show coming up where I’m gonna make some predictions. However, you know, it’s just, it, it, it’s just such an unusual time in, in history. Um, as we kind of look at. Coming off of COVID and having those high interest rates and then coming, uh, coming down and then having Trump elected and now the tariffs and well, gosh, who knows?
Right? I mean, just for example, you know, almost every expert was pretty much guaranteeing that inflation would go up because of the tariffs. I mean, even if it was transient, which frankly I thought it was gonna be transient, meaning that there was gonna be a bump in inflation. For a period of time until there was a readjustment after tariffs.
Well, TPI comes up most recent CPI is actually 2.7. You know, that’s much closer to the fed target of 2%. And, um, 2.7 was, you know, I think, uh, almost a half, half percentage point less than the expected, uh, CPI, uh, report. So that, that’s obviously something else is going on there. And then. GDP numbers came out and we had a four handle.
It was like 4.3, I believe, GDP. So we’ve got incredible growth. We’ve got decreasing inflation. The labor market is still, I know, a little unclear, but it seems like there’s a lot of strength in this market. Of course, it’s really sticky investors. We haven’t quite felt that strength yet, but I do think you need to start anticipating.
That markets are gonna come back pretty heavy, uh, with increased liquidity, uh, and a lot of money in the system. But we shall see, uh, this show. What we’
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