Insights

The Fed is expected to raise rates this week, but a repeat of 2022’s hiking cycle is not our base case. In five of the past six hiking cycles, stocks were positive over the following year, underscoring that economic conditions and inflation trends matter more than the direction of rates alone.

Every August, we “Chart the Course” with a series of charts highlighting key current and historic trends in the economy and markets. We hope you find them both insightful and useful. Our regular commentary will resume in September.