Re: Is this the end of a 30-year bull market?
There is population growth and then the real GDP is adjusted for inflation, there is real and nominal gdps. Mostly 2 percent for feds is a neutral position and over 2 they get hawkish and under 2 they get dovish. Sweet spot is around 2 percent inflation. Fed has both monetary and financial tools to address inflation. Since there was no wage growth and expenditure increased at cost of savings so this is where I think increase in consumer spending is not sustainable.