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Chart of the Week
This year saw a transition from a vaccine-fueled and policy-led recovery to a more fundamentally-driven expansion. Market performance remained fairly strong, even amid supply chain disruptions, meme mania, and ongoing virus concerns. In 2022, we expect growth to moderate, monetary policy to prioritize taming inflation, and fundamentals to continue driving returns.
Source: Bloomberg and Goldman Sachs Asset Management. As of December 31, 2021.