ETF Strategist Channel
The Federal Reserve kept interest rates unchanged at its January meeting and signaled that they were unlikely to cut rates at their next upcoming meeting in March. Although inflationary pressures continue to abate, the latest reading of the Consumer Price Index came in at 3.4% year over year – still above the Feds goal of 2.0%. US equities rose 1.7% in January, with the S&P 500 reaching multiple new all-time highs.
Internationally, investors continue to shy away from China, with the MSCI China Index falling by 10.5%. This poor performance comes from a weakening property sector, an aging demographic, and an overall failure to stimulate the economy following COVID–related lockdowns.
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