Wall Street expects corporate profits to have surged in 2024 and forecasts an even stronger jump for 2025.
Profit growth for companies followed the rising economic tide. The labour market remained strong, helping support consumer spending for goods and services. Prices remain high on many items and services, but the rate of inflation has eased significantly, helping companies lower costs in some cases and relieving some pressure on consumers.
The Federal Reserve’s path ahead for interest rates also remains a factor for companies and consumers looking for less pressure on borrowing costs. The central bank cut its benchmark interest rate three times in 2024.
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