Inflation is still rampant, with the Consumer Price Index (CPI) soaring 9.1% year-over-year in June, surpassing the 8.8% Dow Jones estimate. In response, Federal Reserve officials have signaled to increase interest rates by 75 basis points later this month to bring prices down.
Overall, the monetary policy tightening aggravates the recession fears and will likely keep the stock market under immense pressure. However, this year's widespread sell-off has created solid opportunities for long-term investors to scoop up quality stocks, which are currently trading at attractive valuations.
