Does The CPI Reading Indicate A New Bull Market?
In the history of the US economy, taming inflation has never been done without the effective Fed funds Rate going above the CPI. Today, CPI came in at 4.9%, and the effective Fed funds rate. Since the S&P 500 ($SPX) nearly touched 3,500 in October of 2022, we have been in a steady, structural uptrend, despite the Federal Reserve's measures to tighten the M2 money supply.
