It has been a challenging year for investors as all major indexes have declined significantly due to macroeconomic and geopolitical headwinds. The Federal Reserve has tried to tame stubborn inflation by raising interest rates aggressively, but there are no signs of the inflation cooling off.
The September consumer price index (CPI) rose 0.4% over the previous quarter and 8.2% from the year-ago period. The sequential inflation increase was higher than analyst estimates. The persistently high inflation strengthens the case for the Fed to raise interest rates by another three-quarters of a percentage point in its November meeting.
