The Fed’s Conundrum Continues: How Many More Rate Rises?
Commentary
We’re squarely in the dog days of summer, which in Hellenistic astrology is connected to bad luck, lethargy, and, of course, hot and humid weather.
These are the days when economists and market watchers would love to shut down and go away for the summer. But for Chair Jerome Powell and the U.S. Federal Reserve, there is a lot of work to be done.
So far, this year has confounded market experts. Heading into the year, many expected an economic recession and the stock market to tumble. Those factors, along with moderating inflation, would encourage the Fed to plateau and even cut interest rates….