The Federal Reserve raised its benchmark interest rate by 0.75% yesterday, the central bank's second consecutive move of this magnitude. However, the benchmark indexes jumped in yesterday’s session on investors’ expectations of a softer recession.
Despite the market's rally following the Fed decision, Morgan Stanley is urging investors to hold off on investing in stocks. The company's top U.S. equity strategist and chief investment officer, Mike Wilson, said that Wall Street's euphoria about the possibility that interest rate rises may slow down earlier than anticipated was unwarranted and worrisome.
