US economy proving resilient and higher-for-longer may be back on the table

Stock-markets were mixed last week. The US was lower, Europe higher. Asia markets were generally lower with Japan bucking the trend.

In the US, each week seems to bring fresh news regarding the economy and inflation to change investors’ minds. Latest consensus is that the economy is proving surprisingly resilient and therefore the Fed will have to keep interest rates higher for longer. At least that’s the way economists surveyed recently by the Wall Street Journal are seeing it and recent comments from Fed policy makers appear to concur.

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