Inflation Rate Sees Largest Slowdown Since 2020
View Source | January 13, 2023 4:30 am
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- The most recent inflation data come after one of the worst stock market performances in modern history as soaring prices, geopolitical pressures, and backlogged supply chains plagued the economy.
- The S&P 500 index plummeted nearly 20% in 2022, rivaling the 37% decline seen in 2008 amid the collapse of the banking system, as well as the 12% and 22% declines witnessed in 2001 and 2002 amid the dot-com bubble.
- Federal Reserve Chair Jerome Powell believes the “participation gap” is mostly a result of “excess retirements” that occurred beyond “what would have been expected from population aging alone,” even as younger individuals largely returned to the workforce.
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