As leaders of the world's largest economies gather In Bali, Indonesia, for the G-20 summit, some are calling for an end to Russia's war in Ukraine. This was an economically challenging year, for sure. A combination of rising inflation and a steep stock-market slump against the backdrop of political rancor will tend to do that. But there are still many reasons to give thanks.
Since 1950, stocks in the Standard & Poor's 500 index have risen 15% on average over the 12 months following midterms, he added. Perhaps just as important, the two traditionally weakest years in the four-year presidential-election cycle are now in the rearview mirror. The readings still are high enough to trigger more Federal Reserve interest-rate hikes, dampening economic activity, but the bitter medicine seems to work. National inflation has trended lower from a recent peak of 9.1% in June to 8.5% in July, 8.3% in August, 8.2% in September and, most recently, 7.7% in October.
Because Jesus was born, died, rose, gave and will return for us
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