Fed Chair Jerome Powell’s recent indication toward a more aggressive pace of interest rate hikes amid the prevailing volatile macroeconomic backdrop might warrant avoiding expensive stocks, such as Take-Two Interactive Software, Inc. (TTWO) and SVB Financial Group (SIVB), trading at lofty valuation.
Fed Chair Jerome Powell has explicitly stated that the Fed could increase interest rates to a greater extent and pace than previously estimated. He said, “The latest economic data have come in stronger than expected, which suggests that the ultimate level of interest rates is likely to be higher than previously anticipated.”
