Following the hotter-than-expected CPI data for August, the Fed hiked interest rates by another 75 basis points this week. Officials have also hinted at maintaining their hawkish stance until the target level of 2% inflation is achieved. Moreover, many top analysts believe that the economy might soon tip into a recession as the Fed continues on a path of outsized interest rate hikes.
According to CNBC’s September Fed survey, fund managers and strategists see a 52% chance that the U.S. could enter into recession over the next 12 months.
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