It’s been a very rough first four months of 2022 for investors.
Fed Chair Jerome Powell signaled that a 0.50 percentage point increase in the federal-funds rate is a likely outcome.
“We’ve now gone two years getting paid nothing for cash, and you’re finally going to start earning money for cash in money market accounts and money market funds,” Shah says.
And with the Fed embarking on an aggressive series of interest rate increases, even cash accounts could be yielding close to 2% in just a few months.
For the markets, one key to this coming week’s FOMC meeting will be Powell’s assessment of the outlook for inflation.
But where the Fed heads in the future will depend on the confidence it has in the inflation outlook, Nevruzi says.
In addition to the FOMC meeting, the week will also bring the latest reading on the labor market, another factor in the Fed’s push to raise interest rates.
Chinese ADR-listed stocks rallied after regulators prepared to slow down their campaign against technology companies, the Wall Street Journal reported.
Healthcare stocks led in losses, with Teledoc shares falling after the company cut their outlook for 2022, and both revenue and earnings per share for the first quarter missed Wall Street’s estimates.
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