Many economists expect the Federal Reserve to maintain its hawkish stance in the upcoming months as inflation remains elevated. Concerns over an economic slowdown have led to benchmark stock indexes closing the last week lower after gaining for four straight weeks on optimism over a slightly eased inflation in July and a red-hot job market.
Weaker-than-expected industrial production and retail sales in China and 40-year high inflation in the UK also added to investors’ concerns. The S&P 500 and the Nasdaq lost 1.2% and 2.6%, respectively, last week.
