Investor fears are mounting — inflation is at a 40-year-high, the U.S. is teetering on recession, and the S&P 500 officially entered a bear market as it has fallen more than 20% from its previous all-time high.
More than that – after May’s CPI numbers were released, based on the prices of short-term credit futures, CME's FedWatch technology predicts a 30% chance of a 75-basis-point rate hike at this month's FOMC. A raise of 75 basis points would be the largest since 1994.
