The market this week was so hopeful that inflation has gone up to its peak and was hoping that the Federal Reserve had halted the habit of raising rates constantly.
But the release on Tuesday of last August’s consumer price index data showed that the worst is yet to happen. That inflation has not been domesticated and all goodwill in the market has been crushed.
An indicator is that FedEx has sadly announced that its earnings were the worst ever and that it was withdrawing its full year forecast.
All these sad realities happened before the Fed will meet to talk about its next rate increase, which is expected to be again 0.75 percentage point.
Investment influencers are preaching patience with the equity markets and it is not yet time to put in more money into the market. Let’s see what happens in the next few weeks if the market can recover, and so our financial sanity can be healed.
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