Economic Beat: The S&P 500 and Nasdaq were both down for a fifth-straight week

How will current market developments affect you? The thought leaders at Fifth Third Bank can help make sense of it all. Listen to the Economic Beat as they discuss what happened last week and what they expect will be the focus of this week.

Economic Beat: May 9, 2022

The S&P 500 and Nasdaq were both down for a fifth-straight week, the longest streak for the S&P since 2011 and Nasdaq since 2012. The May FOMC meeting ended with a 50 basis point rate hike, as expected, while the Fed also announced the start of the balance sheet drawdown, starting in June. The hike was the largest in 22 years and an escalation in the Fed’s fight to bring down prices. Listen to this week’s full Economic Beat update or read the transcript below.

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