The market has remained erratic due to worries of an impending recession, as seen by the CBOE Volatility Index's increase of 16.5% over the past three months. With inflation still at more than twice the Fed's 2% target, the majority of economists in a poll by Reuters predict that the central bank would raise interest rates at least twice more in coming months and see no cut by year-end.
The Fed could raise interest rates to 5-5.25% this year, taking borrowing costs even higher. Furthermore, market experts say that the stock market and the economy aren’t out of the woods just yet.
