READ MORE: Wall Street Closed Mixed with the Focus on Central Banks
The Federal Reserve kicked off a two-day policy meeting on Tuesday (25/7/2023), with traders heavily betting that the Fed will raise interest rates by a quarter percentage point on Wednesday local time.
Many analysts believe that the widely expected hike may be the last in the Fed’s tightening cycle, as price pressures have continued to ease of late.
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While falling inflation supports expectations for a change in the Fed’s direction on its monetary policy, it also poses risks to nominal revenue and profit growth, said Mike Wilson, Head of US Equity Investments and Strategy at Morgan Stanley.