[andersonmvd]

> Macroeconomic conditions have changed substantially this year. Despite being well-diversified across every category of financial services, we are seeing customers across the industry experiencing slower-than-expected growth.

sry for the stupid question, but does anyone have a good breakdown/video/article/explanation on the market change? I have some idea, but I'm not a pro.

[lovich]

Interest rates were increased by the federal reserve to ultimately try to increase unemployment to hopefully decrease inflation. This is working by increasing the cost of capital

[nathanaldensr]

I would characterize it as "this is working to end almost two decades of free debt grift."

[lovich]

You could, but that would be ignoring the federal reserves own statements about why they are doing this[1]. It’s not a conspiracy to think they are trying to raise the unemployment rate, they’ve been very open about it

[1] https://www.cbsnews.com/news/fed-interest-rate-hikes-unemplo...

[cowgoesmoo]

I highly recommend this video for a deeper understanding of macroeconomic trends and the role of central banks: https://www.youtube.com/watch?v=PHe0bXAIuk0

[baandam]

Zoom this chart in from about 2016 to now. https://fred.stlouisfed.org/series/FEDFUNDS

The tide of capital is going way out after being at high tide for a very long time.