Jeff Sommer

While inflation has cooled off, there is a danger that it has not been vanquished

THE stock market’s months-long rally stumbled this month. The thrill of seeing investment gains, with metronomic regularity, is gone.

Give the stock market half a chance and it will dominate the financial headlines. That was certainly the case for July, with the S&P 500 powering upward and bonds barely treading water.

At the moment, money market funds and many bonds are not only less risky, but at current interest rates, they are compelling.

IT’S good to be the boss.

Beating inflation is crucial for the US Federal Reserve. But so is promoting full employment. And don’t forget about preserving the stability of the financial system.