The United States is a remarkable economy. Despite the challenges of altered supply chains, pressured profit margins, tight labor markets and sharply higher interest rates, the US continues to grow, producing eye-popping employment numbers in September of a net new 336,000 jobs created. The U.S. economy continues to show strength into the fourth quarter (Q4). Beneath the optimism, growth comes at a cost—inflation, global policy uncertainty (U.S, Europe, Japan, China), and financial conditions tightening in the U.S. and Europe are all challenges markets will have to navigate in the near future. The labor market is fuel for economic resilience, and while the labor market is renormalizing after COVID disruptions, by virtually every metric, it remains strong. This economic resilience has caused consensus expectations to evolve from concerns about recession to hope of a soft landing to optimism that growth will continue at a steady pace. Over the past 15 months, investors have been pricing in higher interest rates and economic risk in the near term, lifting yields on the short end of the curve above the long end. On the wealth planning front, we discuss the potential perils of financial advice from social media.