There were many speeches from Federal Reserve officials this week that might be making investors pause and rethink the rate hike schedule after last week's massive rally. As we have discussed in the past, Federal Reserve's policy to fight inflation appears to be the most important factor for the investors in recent months. Today was no different in that some of the officials reiterated that rate hikes have had limited impact on inflation so far and that at least another full percentage point hike is a near certainty for terminal rate. I think this is pretty much expected and so all three major US indices finished the day only mildly in red.
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