Global stocks rose Monday as investors bought into the idea that the
Federal Reserve will ease up on its aggressive plan for interest-rate hikes, …
Global stocks rose Monday as investors bought into the idea that the
Federal Reserve will ease up on its aggressive plan for interest-rate hikes, if necessary to avoid a
recession. Meanwhile, Russia pushed back against reports it has slipped into default on its foreign debt after failing to make payments as a 30-day grace period expired. US stocks looked set to press on with last week’s gains, which came after Jerome Powell said the US central bank would try its best to avoid a recession, but it would be difficult, as it attempts to curb soaring inflation.
„The positive story seems to be that Fed Chair Powell’s admission last week of the risk of recession means that global monetary tightening may not be as sharp as expected“, Chris Turner, global head of markets at ING, said in a note.
