A combination of economic factors and the Russia-Ukraine war are impacting consumer sentiments and contributing to stock market volatility. In June, U.S. inflation jumped 9.1% over the last 12 months, raising the odds of the Fed hiking interest rates by three-quarters of a percentage point this month.
David Solomon, CEO of Goldman Sachs Group Inc. (GS), believes inflation is now “deeply entrenched” in the economy. Moreover, the CBOE Volatility Index (^VIX) is up more than 40% this year.
