Thirteen years ago last month (June 2007), the Fed Funds interest rate peaked at 5.25% and since then has been steadily declining.
It has been the best of times and the worst of times for U.S. equity benchmarks over the past two quarters.
Following the top 10 best quarters since 1950, the index has climbed every time in the next quarter with an average 8% jump.
In his prepared testimony, Secretary Mnuchin said he expected economic conditions to “improve significantly” in the second half of the year.