This year has been a wild ride for stocks amid the skyrocketing inflation and the Fed’s attempts to rein it by aggressively hiking interest rates. Moreover, a strong job market is expected to encourage the Fed to tighten its monetary policy.
According to the Conference Board, the U.S. economy is considerably cooling off and will likely slide into a recession by the end of 2022. The slowing economy over the past months is “suggesting recession risks in the near term,” said Ataman Ozyildirim, the senior director of economics at The Conference Board.
