A return to normal is not the same thing, at all, as a big decline.
The short-term picture is worrisome, but investors can still meet their goals over time.
Short version: the Fed raises rates as expected, and the markets yawn.
Yesterday's inflation print was a big surprise--a bad one.
August was a resumption of the earlier pullback after a surprisingly strong July.
Fed Chairman Powell just indicated he will keep raising interest rates even if it causes a recession.
July was a surprisingly good month for financial markets.
It doesn't matter what we call it. The economy is in better condition than the headline numbers suggest.
We are at the start of the endgame on the Fed's anti-inflation policy.
There are and will be effects on the economy and markets from the dollar's appreciation. But over time, both will adjust.