The stock market has been under immense pressure due to the twin fears — soaring inflation and economic contraction. The ongoing Russia-Ukraine war and supply chain disruptions have also caused shockwaves to the market.
The Fed recently raised interest rates by 75 basis points, the largest hike since 1994. The central bank has also signaled more rate hikes in the near term to clamp down on inflation, increasing the odds of the economy tipping into a recession. However, a top strategist at JPMorgan believes the U.S. economy will dodge a recession altogether.
