The fed was very aggressive with cutting rates, and that affected rate-sensitive areas of the economy, such as housing and autos. That leaves us with a problem, which is a lack of pent-up demand in the recovery phase. Gail Dudack
Motivational, Inspirational, Funny Quotes
![[Price-to-earnings multiples on U.S. equities] contracted last year because corporate profits grew faster than expected while the market was locked down by inflation fears. Those fears should abate as the Fed eases off, and we should see valuations expand. - Gail Dudack Quotes](/pic/img/img.php?text=W1ByaWNlLXRvLWVhcm5pbmdzIG11bHRpcGxlcyBvbiBVLlMuIGVxdWl0aWVzXSBjb250cmFjdGVkIGxhc3QgeWVhciBiZWNhdXNlIGNvcnBvcmF0ZSBwcm9maXRzIGdyZXcgZmFzdGVyIHRoYW4gZXhwZWN0ZWQgd2hpbGUgdGhlIG1hcmtldCB3YXMgbG9ja2VkIGRvd24gYnkgaW5mbGF0aW9uIGZlYXJzLiBUaG9zZSBmZWFycyBzaG91bGQgYWJhdGUgYXMgdGhlIEZlZCBlYXNlcyBvZmYsIGFuZCB3ZSBzaG91bGQgc2VlIHZhbHVhdGlvbnMgZXhwYW5kLiA=&author=ICBHYWlsIER1ZGFjayAgICA=&num=1 "[Price-to-earnings multiples on U.S. equities] contracted last year because corporate profits grew faster than expected while the market was locked down by inflation fears. Those fears should abate as the Fed eases off, and we should see valuations expand. - Gail Dudack Quotes")
