The U.S. GDP witnessed another decline of 0.9% in the second quarter amid soaring prices, consecutive rate hikes, and looming recession fears. However, according to Treasury Secretary Janet Yellen, “This is not an economy that’s in a recession. A recession is broad-based weakness in the economy. We’re not seeing that now.”
Moreover, the benchmark indices seem to be pacing to post their best month since November 2020, as investors anticipate moderating inflation and rate hikes in the coming months. Nonetheless, market volatility is expected to persist for the time being.
