Technical analyst Larry Williams sees the potential for the market to end strong this year. However, after the Federal Reserve’s chair Jerome Powell expressed the Fed’s commitment to bring down inflation with its rate hikes, experts believe there is still a long way to go before a reversal in tightening monetary policy.
Moreover, the Fed’s harsh treatment of inflation and aim of reducing it to the desired 2% is expected to perpetuate volatility into mid-2023. Mark Haefele, UBS Global Wealth Management's chief investment officer, does not see a major recession in the United States due to the Fed’s actions but expects an additional 100 basis points rate hike this year.
