The economy was more resilient over the course of 2023 than we had expected given the aggressive policy tightening from the U.S. Federal Reserve (Fed). Excess pandemic-era stimulus combined with additional fiscal stimulus, such as the Inflation Reduction Act and the CHIPS Act, kept demand elevated even as supply chain disruptions eased. As a result [...] The post Defense Wins Championships: Digging Into Valuations appeared first on ETF Trends .