Though economic growth is waning, and the Federal Reserve’s persistent interest rate hikes appear to be taking a toll on big purchases like homes, unemployment remains historically low and consumer spending is still relatively strong. Inflation has been inching its way down but remains materially above where the Fed wants it to be. The Federal Reserve is expected to make one more interest rate hike this year, and most economists still anticipate a recession. The recent turbulence in the banking industry certainly furthers that pessimism for the future. These bank issues could mean fewer loan originations, which would decrease the Fed’s desire to make even more interest rate hikes. Global tensions persist with Russia’s invasion of Ukraine. Oil prices are at $75/barrel.