The more than two-month slump occurred amid fresh macroeconomic economic uncertainties, even as inflationary pressures continued to subside, and the FOMC increased interest rates by 25 basis points (bps). The most recent top line, 4% inflation rate is 50% lower than it was in June 2022. M2 money supply declined 2.5% since January, and the Federal Reserve’s balance sheet is 2.1% lower in 2023, both positive developments specific to inflation control.

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Author: Glenn Williams

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