Did you know that Goldman Sachs was founded in 1869 and played a crucial role in major financial events such as the 2008 financial crisis?

This also means that if banks are doing well, then so does the economy.

Welcome to this edition of Equity Eats, where we’ll be exploring the following topics:

• Goldman Sachs Hits Record High: First, we’ll look at Goldman Sachs shares reaching an all-time high 🚀

• Shelter Costs Are Keeping Inflation High: Next, we’ll learn about measuring shelter costs and their impact on inflation 🏘️

• Higher For Longer: Finally, we’ll examine why the current interest rate levels might be here to stay 📈

Stay informed and ahead of the curve with our expert analysis and market insights!

Goldman Sachs Hits Record High 🚀

Shares of investment bank Goldman Sachs have hit an all-time high Friday as the stock built on its longest winning streak in two years and broader U.S. markets are trading near records—a sign of investor optimism for a pickup in big-ticket deals and public offerings.

The banks are back and that bodes well for the broader economy 📈

Shelter Costs Are Keeping Inflation High 🏘️

The United States is the only major economy that includes housing and apartment rents in its inflation gauges.

The reason for that is because it’s impossible to measure these prices accurately.

US government statisticians rely on complex models to estimate shelter costs and their estimates are way off the mark ❌

If the US were to exclude shelter costs from their inflation indexes as other countries do, the Fed would have achieved its inflation target eight months ago, and would have already been cutting interest rates.

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Higher For Longer 📈

Most investors assume that interest rates are abnormally high and will inevitably revert to previously lower levels.

Yet to those investors who have lived through more than a few cycles, the present situation merely marks a return to normalcy.

The 2008 Great Financial Crisis ushered in a period of sluggish economic growth, unusually low inflation, and ultra-low interest rates.

This was likely an aberration of economic history 📜

The Fed will likely cut interest rates, but we should expect a 10-year treasury yield to stabilize in the 3.5-4.0% range, and not return to a world of 2% rates or lower.

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