Rising inflation and the possibility of further interest rate hikes have weighed on investors' sentiment so far. According to statements from two policymakers, the Federal Reserve is about to announce another sharp interest rate hike this month and maybe one in September as well, even if it results in an economic slowdown.
“I’m definitely in support of doing another 75 basis point hike in July, probably 50 in September, and then after that we can debate whether to go back down to 25s,” Fed Governor Christopher Waller told the National Association for Business Economics.
