The U.S. economy has posted positive quarterly growth for the first time this year. The economy grew at a 2.6% annualized rate in the third quarter. However, the Fed is widely believed to deliver a fourth consecutive 75-basis-point interest rate hike at its next meeting.
The aggressive rate hikes to tame high inflation has caused widespread recessionary fears. On top of it, the upcoming midterm elections will likely induce more volatility in the stock market.
