The Federal Reserve’s aggressive interest rate hikes to tame the elevated inflation has kept the stock market under pressure this year. However, the central bank’s hawkish stance is finally yielding results, with inflation cooling down for the second consecutive month in November.
The Fed also kept its word of slowing down the pace of rate hikes by announcing a 50-basis-point increase last week, lower than the previous four hikes. The benchmark interest rate is now at its highest level in 15 years.
