Recent market gains can be attributed to the outlook for earnings growth. And some of that expected earnings growth can be attributed to what’s arguably the most unexpected development in the corporate world over the past two years: The resilience of profit margins.
Big businesses and the banking lobbyists have been on the warpath against the divisive consumer finance watchdog for months claiming he exceeded his authority in a high-profile bid to cap credit card late fees at just $8.
The Federal Reserve’s preferred inflation measures eased in November while consumer spending stagnated, suggesting the central bank’s interest-rate hikes are helping to cool both price pressures and broader demand —