Fed’s hawkish shift signals stagflationary recession, analyst warns

Macro Impact 4
โดย Seeking Alpha·Read original
Summary · why it matters

U.S. stocks fell after the Federal Reserve signaled it is increasingly likely to raise interest rates before year-end, with the median year-end rate estimate rising to 3.8% from 3.4% in March. The Dow Jones Industrial Average dropped 1%, while the S&P 500 and NASDAQ each fell 1.2%. Seeking Alpha analyst Daniel Jones warned the outlook points to a stagflationary recession, citing supply shocks and uncertainty from new Chairman Kevin Warsh’s planned review of Fed communications. Jones added that a weak jobs market and low consumer confidence mean any rate hike would put more downward pressure on most of society. Other observers were mixed, with Creative Planning’s Charlie Bilello calling the pivot a credibility move and Rosenberg Research’s David Rosenberg cautioning that flatter yield curves signal trouble for risk-on trades.

Impact on stocks 1

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