RESOLVING THE LEDGER
This is one outlet's own report from The Motley Fool — the article as it was filed. Other outlets are covering the same event; open the full story to compare every source side by side.
See the full story · 1 sources
Despite a turbulent March, it's turned into another banner year for Wall Street. The Dow Jones Industrial Average (DJINDICES: ^DJI) and S&P 500 (SNPINDEX: ^GSPC) both climbed to record highs this week, while the technology-driven Nasdaq Composite (NASDAQINDEX: ^IXIC) blasted to an all-time high in early June.
But if there's one headwind that's fully capable of knocking this bull market off its pedestal, it's inflation. Trailing 12-month (TTM) inflation hit a three-year high of 4.2% in May before easing to 3.5% in June, and three of the 12 voting members of the Federal Open Market Committee (FOMC) dissented in favor of a quarter-point rate hike at the July 28-29 meeting. The FOMC is the body, including Fed Chair Kevin Warsh, responsible for setting the nation's monetary policy.
Fed Chair Kevin Warsh and the FOMC are contending with a challenging inflationary climate. Image source: Official White House Photo by Daniel Torok.
Continue reading
AIPROPX is an independent multi-source news index — we track, compare, and connect coverage from across the web into one place you won't find anywhere else.