The stock market started this week on a negative note, following last week’s sharp losses after Jerome Powell said that the U.S. economy would need tighter monetary policy “for some time,” raising concerns of an economic slowdown.
According to Reuters, Money market traders are pricing in a 72.5% chance of a 75 basis-point interest rate hike at the Fed’s September meeting. They expect the Fed funds rate to end the year at about 3.7%.
