The inflation rate is cooling off from the impact of interest rate hikes. It takes 9-12 months for rate hikes to be felt and 12-18 months for the maximum effect. The Midterm election, CPI report, interest rate hikes, house prices and rents, wage growth, job openings, unemployment rate, international conflicts and trade wars all play a significant role in guiding the market's macroenvironment. Hopefully, more of this kind of good trend will continue to jumpstart the market soon.
https://www.bls.gov/cpi/
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