Strategist: Fed Rate Hike in July 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 that scenario is unlikely. "We disagree with that view and expect the Fed to ignore what should be a temporary energy supply shock and keep rates on hold," Orlando said. Disappointing U.S. labor market data last week led markets to push back expectations for a final rate hike to later this year. According to London Stock Exchange Group data, money markets are pricing in a 22% probability of a 25-basis-point rate hike in July. (Jin Shi)