Consumer prices are soaring at a pace not seen in decades, raising the possibility of the Fed maintaining its hawkish monetary policy stance. The Fed will likely raise interest rates by 0.75 percentage points later this month, and there could be many more hikes in the offing.
Since these factors have increased the odds of the economy slipping into a recession, deteriorating sentiments have kept the market extremely volatile. Adding to the worries, the International Monetary Fund has cut the U.S. growth projections to 2.3% from 2.9%.
