The Lowry Letter® - 6/14/2025

June 14, 2025

Short edition this week- the major news is of Israel’s attack on Iran’s nuclear facilities and Iran’s retaliation. As we write this, we don’t have a lot of information and certainly don’t know all of the implications. While a serious escalation of conflict between the two countries, like other geopolitical events it is not a good reason to make dramatic changes to your portfolio. We will monitor events as they unfold.

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Q: Another inflation reading came out and seemed pretty good. Are we okay?
A: This commentary makes a good case for why tariffs have not had a major impact on inflation, in addition to them being implemented in a limited way than what had been proposed. We think it is a pretty good argument. A key point is the impact of government policy on money supply.