The Stock Market's Still In Awe Of the View In Front Of It

Your author was on vacation last week when the Federal Reserve reportedly shocked the market with its latest economic and interest rate projections.

Out was a belief that the first rate hike wouldn't come until 2024 and in was the idea that there could possibly be two rate hikes in 2023. Out was the projection that the PCE inflation rate would be 2.4% in 2021 and in was the projection that it will be 3.4%.