The Federal Open Market Committee (FOMC) met earlier this week and in a welcome development refrained from increasing the Fed Funds rate after nine straight rate increases of varying magnitudes.
Market volatility has intensified as financial conditions tighten and global central banks pursue monetary policies to combat persistently high inflation and maintain financial market stability.
Markets breathed a collective sigh of relief this week following the passing and signing of the Fiscal Responsibility Act of 2023, which effectively suspends the federal debt ceiling through January 1, 2025 and averted a potentially catastrophic US government default.
