Broadening-wedge pattern forming on the Dow Jones
Channel: CMC Markets plc
Date: 03/05/2023

The US Federal Reserve faces a difficult balancing act as its rate-setting meeting concludes today, says Michael Kramer of Mott Capital Management. Although unemployment and job vacancies are falling, recent manufacturing purchasing managers’ index readings suggest that inflation could tick higher. To combat the threat of persistent inflation, the Fed is widely expected to raise interest rates by a quarter of a percentage point on Wednesday, bringing its federal funds rate to a new target range of 5% to 5.25%. What could that mean for US markets? Kramer offers his thoughts below.

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