The stock market was on a wild ride last year due to the double whammy of skyrocketing inflation and the Fed’s interest rate hikes, coupled with geopolitical tensions. However, a series of recent positive economic data boosted investors’ confidence.
Inflation fell for the sixth consecutive month to 6.5% in December, bolstering hopes of a soft landing among investors and smaller interest rate hikes by the Federal Reserve going forward. Despite the steady waning, the central bank remains committed to bringing inflation down to its 2% target, implying more interest rate hikes this year.
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