After enduring a painful year in 2022, the stock market and investors have regained optimism over a series of recent positive economic data. The inflation rate fell again in December to 6.5% on an annual basis, the lowest reading since October 2021.
Despite cooling inflation, the Federal Reserve delivered its eighth consecutive interest-rate hike this week. It hiked the benchmark’s key rate by 25 basis points, bringing it to the 4.5%–4.75% range.
