Worries over a slowing economy amid high inflation and the Fed’s hawkish stance to tame it have kept the stock market under immense pressure. August’s consumer price index (CPI) increased 0.1% sequentially and 8.3% year-over-year, indicating that inflation is yet to be controlled.
The stubborn inflation is expected to spring the Federal Reserve back into action with its hawkish stance. Analysts are worried that the Fed’s actions might eventually tip the economy into a recession. Therefore, the stock market will likely remain under pressure.
