Is Costco Today's Top Stock?
It has been quite an interesting year to be a stock market investor -- to say the least. U.S. inflation soared to a 40-year high in June, climbing 9.1% from a year ago and marking the largest year-over-year increase since the early 1980s.
In July, the Federal Reserve increased interest rates by 75 basis points for the second consecutive time to combat rising prices, and many investors believe it may do so again in its upcoming September meeting. To contextualize just how rare -- and aggressive -- the Fed's latest moves have been, the central bank has not hiked interest rates by 75 basis points since 1994.
To add fuel to the seemingly endless fire, the war in Ukraine has had a string of negative global economic consequences.
Source Fool.com
