index hit the 40’000 mark for the first time – sparking the good, old discussions about ‘how long did it take the Dow Jones to walk the last 10’000 points’.
But anyway, all three indices ended yesterday’s session slightly lower than when they started – despite hitting a record during the session. Fed members insisted that the Fed’s rate policy is in a good place right now, and that it will probably take longer for inflation to slow to the 2% target.And it will probably take US inflation some more time to go back to the 2% unless there is a severe economic meltdown.
Xi Jinping wanted this model to shift toward consumer-based growth, but his less-than-subtle tactics hammered consumer confidence and obliged him to go back to the good, old growth tactics. So, it’s no surprise that China revealed better-than-expected industrial production in April despite slower retail sales and a bigger fall in house prices.
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