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While a degree in finance, economics, or related fields is highly sought after, investment banks will hire candidates with a diversity of backgrounds, especially in STEM fields. To develop these skills, take classes in finance and economics, regardless of your major. Maybe even more important than your major is your GPA.
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We believe many of these counter balances are nearing an end, and the economic impacts of the Fed’s policy, which are always felt on a lagged basis, will begin to manifest on Main Street soon. Lastly, the impact of fiscal stimulus through the CHIPS Act and the Inflation Reduction Act (IRA) created a boom in manufacturing spending.
Given the economic data, the Fed also had a more hawkish rate-tightening outlook than expected. In large measure, the hawkish tone of the Fed is driven by moral suasion and, to a lesser degree, recent economic data. This came to pass in June as the Fed paused its rate-hiking cadence, which began in March 2022.
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