Fed Reiterates Its Goal of 2% Inflation Rate and Will Most Likely Raise Interest Rates Before the End of the Year

We had a good rally on Friday, but in the intermediate term, we’ll probably see downward pressure on the stockmarket. Additionally, a jump in WTI oil to $86.29 due to the attack on Israel will definitely not help in the short term. Higher oil prices will translate to higher cost of goods and keep inflation high. We are going to need great earning reports plus great guidance to keep the rally going.

https://www.reuters.com/markets/rates-bonds/feds-bowman-says-it-will-likely-be-appropriate-raise-rates-again-2023-10-07/

h/t peelingkactus