The Federal Reserve has announced its fourth consecutive 75-basis-point interest rate hike today. While the central bank has hinted at potentially slower rate hikes in the future, the economy might still be unable to avoid a recession.
Since bears and fears are reigning on Wall Street, with investors on their toes to short at the first sign of trouble, the markets are unlikely to return to stability anytime soon. However, according to legendary investor Warren Buffet, this slump may be the best time for long-term investors to get greedy and buy into businesses with fundamental strength, quality, and resilience to survive the current turbulence and emerge stronger.
