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Cycle Watch | April 2023 Market stress raises recession worries

April 13, 2023
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Stocks and bonds posted gains during the first quarter amid considerable volatility from a banking crisis and widespread uncertainty around interest rates. The latest CPI report shows annual inflation slowed again in March, yet it’s still more than double the Fed’s 2% target. Despite the first quarter’s strong performance, rising rates, among other factors, weighed on economic growth. These latest numbers will likely pressure the Fed to raise rates again at its May meeting to combat still-high inflation.

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