Rollercoaster market moves in the final days of 2024 offered a blunt reminder that investors are heading into a year of living dangerously.
Stocks and bonds lurched lower after the Federal Reserve’s final policy meeting of the year, spooked by the notion that the central bank may be unable to keep cutting rates (as it had previously expected to) because of still-simmering inflation.
The key is not what Fed chair Jay Powell said. It is what he was careful not to say but what every fund manager knows: when Donald Trump returns to the White House this month, his economic agenda could be bad for growth, fuel inflation, or even both.
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