Strategist: July Fed Rate Hike Unlikely

Odaily Planet Daily News Investors are increasingly concerned that the Fed's next policy decision could be a 25-basis-point rate hike, possibly as early as this month, but Phil Orlando, chief market strategist at Federated Hermes, said this is unlikely. "We disagree with this view. We expect the Fed to ignore what should be a temporary energy supply shock and keep rates unchanged," Orlando said. Disappointing U.S. labor market data last week prompted the market to push back expectations for a final rate hike to later this year. Data from the London Stock Exchange Group shows that the money market is pricing in a 22% probability of a 25-basis-point rate hike in July. (Jinshi)