Dear Reader,

We all know by now that the inflation we’ve seen—and continue to see—is no small matter. I think what the Fed does will play a large role in determining the outcome.

In a recent issue of Thoughts from the Frontline, I remarked,

There is a very real possibility, if not probability, that the stock market enters a bear market in 2022 while inflation remains high. It could happen before the Fed raises rates. What does Powell do then?

[...] It will be a massive policy error, much more extreme than the last one, if the Fed doesn’t lean into inflation even if the stock market suffers a short-term retreat. What have we learned over our last 50 years? The market comes back and will be stronger and higher. Valuation will matter.

But not if the Fed lets inflation really take hold. Jerome Powell clearly knows the history of Arthur Burns and his successor, William Miller, screwing up. Here’s hoping that Powell is made of sterner stuff.

The markets will do what the markets will do... with or without the “help” of the Fed. But if you know where to look, you can find opportunities even in a downturn.

That’s why it’s so important to have a team of professionals to help you navigate the choppy waves and guide your investment decisions.

There is strength in numbers—and specifically in being part of a unique community of investors.

If anyone can weather any economic storms unscathed, I would put my money on our Alpha Society members, hands down.

As an Alpha Society member, you receive all our premium research for as long as we publish it. When we launch a new service, it’s yours with no additional cost to you.

And the savings are tremendous. You can get all the specifics here.

But what’s most important is that as an Alpha Society member, you become part of our inner circle. The connections you can make here are truly priceless.

You’ll see how tight-knit our little community is...

• when you use your complimentary Virtual Pass to attend the SIC 2022 (by the way, your Virtual Pass will be free for you every year)
• during our quarterly, members-only video calls where you can ask the editors and guests your questions in real time
• in our “Ask Me Anything” sessions hosted on our members-only social media platform, the Alpha Society Council

I encourage you to take the next step today and become an Alpha Society member.

Let’s face the future together, no matter what it looks like. That’s what I call true strength.

Your always looking at the bright side analyst,

John Mauldin
Co-founder, Mauldin Economics