The Power of One Pundits, analysts and investors had spent the first half of February flailing their arms over the most recent Consumer Price Index (CPI) and retail sales reports that showed prices growing faster than expected in January, walking back expectations for Federal Reserve rate cuts.
[Goldman Sachs economists have dropped expectations for Federal Reserve interest rate cuts in 2024 to four from five previously, with the first reduction not coming until June.]
A slew of generally good corporate earnings reports kept hope alive, but in fits and starts. Amazon and Meta, for example, beating expectations. But Apple reporting weakness in the Chinese market. Talk of a market rally running out of steam became pervasive on the business channels.
[Goldman Sachs economists have dropped expectations for Federal Reserve interest rate cuts in 2024 to four from five previously, with the first reduction not coming until June.]
A slew of generally good corporate earnings reports kept hope alive, but in fits and starts. Amazon and Meta, for example, beating expectations. But Apple reporting weakness in the Chinese market. Talk of a market rally running out of steam became pervasive on the business channels.
RSS Feed