By John Persinos
On New Year's Eve, let's raise a glass and bid "good riddance" to 2022. The S&P 500 is on track to post its worst year since 2008.
However, the new year ahead appears more promising. Data indicate that inflation has peaked, and pandemic-induced supply chain havoc is abating.
The Federal Reserve is determined to maintain its credibility by boosting interest rates, until inflation gets closer to the central bank's 2% target. That's a daunting goal. Even if inflation considerably cools, chances are the Fed will keep tightening.
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