All eyes are on the Central bank as it’s widely expected to raise rates by 75 basis points on Wednesday for the fourth consecutive time. Meanwhile, Wall Street ended the last month on a positive note. The Dow registered its biggest monthly advance since January 1976 as investors rotated out of technology and hedged hopes on stalwarts like banks.
Additionally, solid profits and economic data are raising hopes for a “pivot” by the Federal Reserve in the near term. According to Michael Wilson, Morgan Stanley strategist, the Federal Reserve’s campaign to raise interest rates is approaching an end. Wilson wrote in a note on Monday. “This week’s Fed meeting is critical for the rally to continue, pause or even end completely.”
