June was a terrible month, with stock markets in the U.S. and abroad down substantially and developed international markets hit the hardest. The underlying reason? The Fed. With inflation high, the Fed has raised interest rates over the past six months, which has driven the risks of a recession. Still, the economic news is healthy. Companies are hiring, supporting spending growth, and business investment is sound.
So, what’s the bottom line? Stay tuned to my latest Market Thoughts video to find out.