How Personal Savings Affect the Economy

Four years ago, the S&P 500 reached its lowest level of the 2022 bear market in October. At the time, inflation was climbing at its fastest pace since the 1970s, the Federal Reserve was raising interest rates rapidly, and recession fears were widespread.

As interest rates have risen to multi-decade highs, one of the implications that has received less attention is the strengthening U.S. dollar. The dollar affects all aspects of financial markets, the economy, and everyday life.