The New York Public Library’s Financial Planning Day was a huge success, thanks in part to Bank OZK’s sponsorship. A highlight of the event was a presentation by our Trust Investment Manager, Minnie Mills, called “Maintaining Focus on What Moves Markets.”
The room was packed with New Yorkers eager to hear Minnie’s share her knowledge about the current state of the American economy, as well as her wisdom regarding where we might be heading. The room was so overflowing that many people who had hoped to hear her speak couldn’t get in.
Minnie’s presentation explored a variety of topics, including business cycles, the labor market, and even how current events like tariffs and the midterm elections might affect the economy. There was a lot of ground to cover in her roughly 90-minute presentation, but she proved to be a dynamic speaker and kept the audience engaged the entire time. Here’s just part of what she had to say about inflation, for example:
“Inflation is evil,” Minnie said, to laughter from the audience. “It robs your purchasing power. If you think about one dollar that you had 30 years ago, it would be worth 23 cents today…we can’t get away from it. Inflation is actually good in many ways because we need companies to have purchasing power, but in turn inflation erodes, so you need to have an asset that’s going to outpace inflation. You can’t keep your money in a mattress because it won’t appreciate out there.”