The Fed on Wednesday matched market expectations by hiking interest rates by 75 basis points. It also projected a slowing economy and rising unemployment in the coming months in the face of the worst inflation in 40 years.Article content
“We view it as increasingly likely that a recession and higher unemployment will be necessary to tame inflation: with such a gloomy macro picture looming over the markets,” said Geir Lode, head of global equities at Federated Hermes Limited. Following the Fed meeting, Wells Fargo said the odds of a recession now stand at more than 50 per cent.
The Swiss National Bank raised its policy interest rate for the first time in 15 years in a surprise move on Thursday, while the Bank of England hiked borrowing costs by quarter of a percentage point. The S&P 500 is down 20.5 per cent year-to-date and is in a bear market as investors grapple with a sharp slowdown in growth. The Nasdaq Composite and the S&P 500 indexes were set to mark their 10th weekly decline in past 11 weeks.
Things were way better under Trump. Canada is following Biden's disastrous policies into a recession of our own. Are minimum wage earners enjoying that Liberal $15/hr yet?
stocks were propped up for at least a decade by non existent interest rates. nothing else. no value created. just more and more greed. time to pay the piper
Already tanked lol
Intentionally done
Debt Market is exploding. Why Covid Money Printing and Economic Closure Inflation is NOT peaking, it has only just begun
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