US equity market strength in 2024 has been driven primarily by liquidity injections through government spending and an effectively dovish Federal Reserve despite hawkish rhetoric, leading to multiple expansion in large-cap and multinational stocks rather than broad-based earnings growth.
causalpending
Speaker
Danielle LaalEvidence Quote
“one of the one of the reasons why the US Stock Market is so strong is because there's been such an enormous level of what economists call liquidity injections which ultimately is government spending no uh so government spending and the a Federal Reserve that has been headline hawkish however in reality very very doish has driven uh multiple expansion in the US Stock Market”
Created: 8/11/2026, 7:56:04 AM
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