On Monday, August 5, the Dow Jones Industrial Average was off over 1,000 points. Investors were in a snit. Investors sometimes get that way. This time, with the days of 0% interest rates and a wide-open Washington fiscal spigot behind us, their by-product, ruinous inflation, had been taking its toll. To get this inflation to a manageable level, the Fed had raised interest rates several times in 2022-2023 and had kept rates fairly high. Now, as August 2024, got underway, the Fed was being blamed for harming the economy.
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