Sky-rocketing inflation, consecutive interest rate hikes, and the possibility of an economic slowdown have kept the stock market under tremendous pressure. However, the S&P 500 hit its highest level since June earlier in the week. Investors shook off recession worries as robust earnings reports and positive economic data boosted sentiments.
St. Louis Federal Reserve President James Bullard believes the U.S. is currently not in a recession. “With all the job growth in the first half of the year, it’s hard to say that there was a recession,” he added.
