The Federal Reserve is expected to announce another steep interest rate hike this week, adding to the concerns of a possible recession. Economist Nouriel Roubini believes that the U.S. is headed for a severe recession, and stocks could fall another 50%. On the contrary, few, like the veteran market strategist Ed Yardeni, feel that the bear market could be nearing an end.
Amid such uncertainties, market volatility is rife, as is evident from the CBOE Volatility Index’s 39.1% year-to-date gains. However, CNBC’s Jim Cramer opines that investors should focus on taking a long-term strategy for their portfolios.
