The Fed’s response to 40-year high inflation has been a similarly abrupt increase in interest rates this year. Though the Fed has indicated a smaller magnitude of rate hikes ahead, their fight against inflation is far from over.
Economic uncertainty has continued to loom large, given the sky-high inflation and consecutive rate hikes, resulting in the Consumer Confidence Index of the Conference Board falling to 100.2 in November, down from 102.2 in October. The index is at its lowest level since July.
