Wall Street closed its first losing week in the last four with an up-and-down Friday, as investors brace for the Federal Reserve to tighten the brakes on the economy more aggressively to beat down inflation.
Wall Street closed its first losing week in the last four with an up-and-down Friday, as investors braced for the Federal Reserve to tighten the brakes on the economy more aggressively to beat down inflation.
toward fighting inflation by raising short-term interest rates and making other moves. It’s a sharp reversal from keeping rates at record lows to stimulate the economy and carry it through the pandemic. Altogether, the moves should make it more expensive for U.S. households and businesses to borrow, which in turn would slow the economy and hopefully halt the hottest inflation in 40 years.Higher rates hurt all kinds of investments, particularly the stocks seen as the most expensive. That’s because higher rates mean better returns for owning relatively safe bonds, which makes investors less willing to pay higher prices for riskier assets like stocks.
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