The sentiments in the U.S. stock market are shaky as the country’s central bank is taking stringent measures to keep inflation under control. The Federal Reserve hiked its benchmark interest rate by 75 basis points (bps) earlier this month, preceded by an increase of 50 bps in May and 25 bps in March. Another rate hike of 50 to 75 bps is likely in July. On June 22, Jerome Powell, the Federal Reserve Chairman, commented on the speculation that these inflation-control measures might trigger a recession.
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