Factors like inflation, interest rates, A.I. and the war with Iran are far more important, our columnist says.

Inflation is moving in the wrong direction and the labor market remains stable, a combination that bolsters the case for higher interest rates.

© Athit Perawongmetha/Reuters

Inflation is moving in the wrong direction and the labor market remains stable, a combination that bolsters the case for higher interest rates.

© Athit Perawongmetha/Reuters