The past year has been challenging for investors as the economy faced significant headwinds due to geopolitical issues, persistent inflation, and aggressive interest rate hikes. However, the Commerce Department reported that the fourth quarter Gross Domestic Product (GDP) rose at a 2.9% annualized pace, more than expected by economists.
Since last year, the Fed’s interest rate hikes have helped cool the runaway inflation. Prices eased for the sixth consecutive month in December, with the Consumer Price Index (CPI) rising 6.5% year-over-year and declining 0.1% sequentially.
