In truth, not much happened on the news front this week. The housing data did come in better than expected, which was good news and supports the idea that a recession is still some ways away. But, as we discussed last week, we kind of knew that already. Fed Chair Powell testified that the central bank is still determined to get inflation down to the 2 percent target and that it plans to keep rates high—and maybe raise them further. Again, we knew that because he has been saying it over and over for more than a year now. This week was more about olds than news.