The carnage on Wall Street last week surely rattled investors, but on Main Street the good times aren’t about to end.
U.S. stocks SPX, +1.42% sank dramatically last week just days after spiraling to fresh all-time highs, raising questions about how much longer an economic expansion that’s more than nine years old can last. The Federal Reserve is raising interest rates, and whenever that happens, the economy always slows.
The economy doesn’t always slow right away, however, and interest rates are still so low that it’s likely to be awhile before they begin to hinder growth.
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