The stock market ended the last month with four straight daily declines, with the benchmark indices suffering their biggest monthly declines since 2015. The sell-off was triggered by Jerome Powell’s remarks about keeping monetary policy tight for some time.
Although the Fed has already hiked rates four times for a total of 2.25 percentage points, Cleveland Federal Reserve President Loretta Mester said on Wednesday that she sees interest rates rising considerably higher before the central bank can ease.
