Traders work on the floor of the New York Stock Exchange during afternoon trading on Monday in New York City. Fed chairman Jerome Powell's hawkish remarks at the Jackson Hole Symposium on Friday night led markets to believe the Fed would maintain its tight monetary policy and increase the US policy rate higher and for longer than expected, analysts said. His stern message raised the probability that the Fed would vote for a policy rate hike of 75 basis points at its meeting in September. Krungsri Securities research noted Fedwatch was overweight on the Fed's next interest rate hike being 75 basis points on Sept 20-21. Krungthai Asset Management said investors should invest in energy and commodity mutual funds to beat high inflation and interest rate hikes, both of which are expected to continue for several months.

Source: Bangkok Post August 30, 2022 01:54 UTC