Continuing geopolitical conflict and lingering logistical hurdles have aggravated inflation rates. However, Russia might consider a military withdrawal from some areas of Ukraine soon, which seems to imply movement towards an improvement of the situation. Furthermore, despite the Fed’s hawkish stance, which has driven diminishing growth estimates, the stock market has recovered over the past two weeks.
In addition, according to the U.S. Bureau of Labor Statistics, the number of new hires went up in February to 6.70 million, indicating a steady economic recovery. Industry analysts expect the S&P 500 to see a 16.8% surge over the next 12 months.
