This year, the record-high inflation drove wild swings in the stock market, forcing the Fed to hike interest rates persistently. However, despite the ongoing macroeconomic and geopolitical issues, the economy seems to be buoyant.
In the third quarter of 2022, the economy recorded its first GDP expansion for the year. GDP rose at an annualized pace of 2.6%, beating the 2.3% estimate. Moreover, according to Morgan Stanley’s Michael Wilson, U.S. midterm elections could fuel a year-end rally.
