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Sehoon Kim, Assistant Professor of Finance, University of Florida

Fed rate hikes, recession fears and political backlash leave ESG investors at a crossroads

Recession ESG investing Interest Rates the Federal Reserve US Federal Reserve Inflation BlackRock
ESG investing looks for companies that do well on environmental, social and governance benchmarks. Zhengshun Tang/Moment via Getty Images

The Federal Reserve raised interest rates again on May 3, 2023, by a quarter point, making it the Fed’s 10th rate hike since March 2022 in an ongoing fight to tame inflation. These rate hikes have been reverberating through the economy, raising prospects of a recession amid heightened concerns about the fragile state of banks.

The rate hikes are also rattling sustainability-focused investing, better known as ESG investing.

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