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Janney Montgomery Scott’s Chief Investment Strategist, Mark Luschini, has said that a 25 basis point (bps) hike is the most likely outcome at the next Fed meeting.

Speaking on CNBC’s ‘Power Lunch’, Luschini discussed the current state of the markets and what to expect from the Fed’s meeting next week.

He cited the “schizophrenia” of market participants and the continuing battle against inflation as factors contributing to the bear market that began last year.

Luschini also expressed concerns over bank failures and the risk premium being embedded in stock prices, which could potentially result in further market volatility.

He noted that the press release and summary of economic projections accompanying the meeting next week would be crucial in determining the outcome.

Luschini suggested that, absent further stock market volatility or sizable bank failures, a 25 bps hike was the most likely outcome, although he did not rule out the possibility of a pause or a more aggressive 50 bps increase.

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