He explained: “Minutes from the latest FOMC meeting didn’t signal a clear intention by the Federal Reserve to immediately stop hiking its key rate further or to lower it by the end of the year, despite acknowledging a material tightening of financial conditions.
“However, we don’t think there’s a basis for immediate investor disappointment. Some policymakers are having second thoughts about further hikes.
“We appear to be very close to the end of this rate hike cycle. One or two more rate hikes will not make a significant difference at this point.”
The finance expert highlighted the main issue involving interest rates which are hurting both Americans and the market.
