The Federal Reserve is likely to trigger a recession in 2023, further rattling the U.S. stock market and sending equities lower, according to one analyst.
UBS managing director and senior portfolio manager Jason Katz says the longer the Fed stays hawkish, the higher the chances are for a recession. is coming to an end, but investors hoping to see a brighter 2023 may be out of luck.the Federal Reserve
The S&P 500 is down more than 20% so far this year, while the Dow Jones Industrial Average has plunged more than 3,800 points. The tech-heavy Nasdaq Composite, meanwhile, has tumbled about 33%. Fed policymakers voted last week to raise the benchmark interest rate by 50 basis points to a range of 4.25% to 4.5%, slowing their campaign to cool the economy amid early signs that stubbornly high inflation is finally starting to ease.
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