History Says the S&P 500 Could Soar in 2024: 1 Stock-Split Growth Stock to Buy Now and Hold Forever
The Federal Reserve began raising its benchmark interest rate in March 2022. Policymakers pushed that rate higher at its fastest pace since the early 1980s in an effort to bring inflation back to its 2% target. They have nearly hit that mark. The inflation reading was 3.1% in November 2023, a significant slowdown from 9.1% in June 2022.
Given that progress, the Fed held rates steady at the last three meetings, and officials have signaled an end to the rate hike cycle this year. In fact, the latest projections imply a few rate cuts in 2024. In any case, the end of a rate hike cycle has historically been a good thing for the S&P 500 (SNPINDEX: ^GSPC), a benchmark for the broader U.S. stock market.
Here's what investors should know.
Source Fool.com
