4 months ago • 4:35 mins
Stocks have rallied with a vengeance over the past three weeks, and it’s not hard to see why: second-quarter company earnings ended up better than analysts were expecting, while investors have become more and more confident that US inflation has peaked. But if you’re wondering if it’s time to start shouting about the arrival of a new bull market, you might want to hold off. Here’s why…
The Federal Reserve (the Fed) has two objectives: keep employment near its maximum level, and keep prices stable around 2%. With unemployment in good shape, at a pre-pandemic low of 3.5%, tamping down the country’s high inflation is the Fed’s top priority. And as the central bank’s emphasized several times lately, it’s willing to do whatever it takes to make th
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