Fed's New Chair and Rising Inflation Make Rate Cuts Unlikely, Favoring Certain Stocks
The Federal Reserve has a new chair in Kevin Warsh following the confirmation by the Senate. With inflation reaching a three-year high of 3.8% due to rising energy costs from geopolitical tensions with Iran, rate cuts now appear unlikely. Instead, markets are pricing in potential rate hikes or at least no movement through year-end.
Tickers: $XLE
Topics: energy sector Federal Reserve inflation interest rates