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High US interest rates may stay if stocks continue to soar
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Rocketing stock prices will make it difficult for the Fed to take action to cut rates as this may worsen inflation.
PHOTO: REUTERS
Jeff Sommer
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It isn’t much of a stretch to claim that the fate of the United States economy and stock market in 2024 – and, maybe, even the November elections – will be determined by the forces arrayed at two consequential meetings held over 4,800km apart.
One was a sales conference on artificial intelligence (AI) that filled a hockey arena in San Jose, California, to the brim, the other a conclave on interest rates, inflation and unemployment at the Federal Reserve’s white marble neoclassical headquarters in Washington.
