The Dow Up 39% on the First Half of the Year

The markets don't really believe the Fed. They know the Fed is likely near the end or done hiking. And that surprised the markets. Well now we've had a big rally, even though the Fed hasn't even started cutting rates yet. It's still hiking rates and indicating it's going to hike some more. But again, what the markets still don't get is that inflation is going to get worse, not better. The markets just haven't figured that out yet.