The Beginning of the End? The End of the Beginning?

The Fed did just what everyone expected and raised rates by 25 basis points. That’s the tenth hike in just over a year and brings the Fed funds rate to 5-5.25%.

It’s either the beginning of the end (if you think the Fed has hiked us into a recession) or the end of the beginning (if you think a soft landing or persistent inflation scenario is likely).

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