With both short- and longer-term interest rates on the rise, the natural question for equity investors is: What does this mean for the stock market? In this Economics Weekly we look at this question by examining the performance of equities in past Fed tightening cycles, with the conclusion that rules of thumb are helpful, but they are not the only thing.
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Richard de Chazal, CFA, is a London-based macroeconomist covering the U.S. economy and financial markets.