UBS managing director and senior portfolio manager Jason Katz says the longer the Fed stays hawkish, the higher the chances are for a recession. is coming to an end, but investors hoping to see a brighter 2023 may be out of luck.the Federal Reserve
The S&P 500 is down more than 20% so far this year, while the Dow Jones Industrial Average has plunged more than 3,800 points. The tech-heavy Nasdaq Composite, meanwhile, has tumbled about 33%. Fed policymakers voted last week to raise the benchmark interest rate by 50 basis points to a range of 4.25% to 4.5%, slowing their campaign to cool the economy amid early signs that stubbornly high inflation is finally starting to ease.
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Bank of Japan?
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