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Stocks are bracing for more losses after Fed Chairman Jerome Powell promised to proceed “carefully,” but with at least one more hike. That’s as he sees consumers hanging in there despite higher energy prices and student loan payments coming due.
“The drunken sailors ‘hate inflation, hate it,’ and are in a foul mood, but are in good shape and keep spending,” is how Wolf Street’s Wolf Richter sums that up. Indeed, as it seems no expenses are being spared for Barbie costumes this Halloween.
Don’t…
