Is it a bear market already?

Investors have spent the past week primarily following the actions of major central banks. Everyone's attention was focused on the largest interest rate hike in the United States in nearly 30 years, but the shape of the monetary policy was also changed in Switzerland. The analysts' baseline scenario is the continuation of the Fed's actions and the decision to raise interest rates by another 75 bp. at the July meeting. Will such action effectively cool down the economy? The latest economic forecasts Federal Reserve did not turn out to be a big surprise for the market - inflation in the United States will remain at a higher level, although the dynamics of price growth should stabilize in the coming months. In 2024, the median of members' expectations FOMC indicates that the level of US interest rates will exceed the level of 3%. How will such a dynamic tightening of the Federal Reserve's monetary policy affect the condition of the world's largest economy? Will higher interest rates increase unemployment? These and similar questions will have to be answered by Jerome Powell, who will be attending Congress this week, where he will deliver his six-month speech and answer a series of questions from Congressmen. 

Discount on the stock market, and more

We invite you to a weekly webinar with a Raw Material Market Analyst XTB Michał Stajniak, in which he will answer the title question - is this already bear market?

In today's webinar:

• How high can US interest rates rise?
• The United States owes expensive oil?
• What's next with cryptocurrency prices?

WATCH ON-LINE

About the host

Michał Stajniak

Michał Stajniak - Raw Material Market Analyst in XTB. It places particular emphasis on the linkages between the behavior of commodity prices and the currencies of economies heavily dependent on exports of commodities such as oil, iron ore, gold and powdered milk. He is the author of frequent comments comparing commodity price indices with currency pairs such as AUDUSD, NZDUSD, USDCAD, USDNOK, or EURNOK. He represents XTB in the media (including TVN24 BIS, Polsat News, TVP Info, Bankier TV or Onet TV) and is the author of articles in the financial press such as Parkiet, Puls Biznesu and Dziennik Gazeta Prawna. He is a practitioner of the stock market and the derivative market. In his approach, he values ​​fundamental analysis above all, but often uses Fibonacci levels to determine the demand and supply zones needed in a Price Action strategy. A graduate of Quantitative Methods in Economics and Information Systems at the Warsaw School of Economics.

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