Yellen Consigning Stocks Fate to Earnings That Keep Falling

Updated on
  • Falling profit greets Fed tightening for first time since 1967
  • P/E tops levels at eight of the past 10 bull market peaks

U.S. Interest Rates: the Fed's Plan for 2016

It’s hard to know which would be worse for U.S. equity investors right now: a contraction in valuations, or if stocks were left to rely on earnings growth to push them higher.

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