NEW YORK - A resilient U.S. economy and expectations of a nearing peak in the Federal Reserve’s monetary policy tightening cycle are emboldening stock investors, even as worries persist over rising valuations and the potential for inflation to rebound.is up nearly 19% this year after gaining around 1% in the past week. It has risen nearly 10 percentage points since June 1, over which time the U.S.
Policymakers raised rates by another 25 basis points to their highest level since 2007 at the central bank's July 26 meeting and left the door open to another increase in September. A test of the economy comes next week, when the U.S. reports employment numbers for July. While comparatively strong employment data has been a driver of this year’s stock rally, signs that the economy is growing at too rapid a pace could spark worries that the Fed will need to raise rates more than expected.
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