This year has been challenging for investors and businesses as they have been punished by high inflation and aggressive interest rate hikes by the Fed. However, the recently released favorable macroeconomic data could lead to a year-end “Santa Claus rally” for the market.
The consumer price index rose 0.1% from the previous month and 7.1% from a year ago in November, lower than estimates. Corporate economist with Navy Federal Credit Union, Robert Frick, believes that cooling inflation will boost the markets and take pressure off the Fed to raise interest rates at an accelerated pace.
