High inflation, the Fed’s interest rate hikes to handle it, the economic fallout from Russia’s invasion of Ukraine, and recessionary fears have kept the stock market volatile for most of 2022.
October Consumer Price Index (CPI) data came in lower than expected, indicating some signs that inflationary pressures could be easing. Furthermore, Federal Reserve chairman Jerome Powell’s recent remarks regarding smaller interest rate hikes boosted investors’ confidence and led to a solid market recovery until the end of November.
