Obama’s first two years were great for the market

As the Federal Reserve evaluates its next move on short-term interest rates, it’s essential to consider the recent shift in wage growth and inflation.

Fed policy has a heightened data dependency, leading to increased volatility in the bond market. Even though rate cuts remain the odds-on favorite for later this year, investors should heed the tenor of recent Fed-speak, which reinforced the notion of rates being higher for longer.

As we have seen so many times over the last few years, monetary policy will remain a fluid process.

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