Stock Market Will See 400 BPS Interest Rate Hikes By End Of 2022

"Given the sharp fall in the weekly MBA Mortgage Applications Index, odds are we will see another decline when August Housing Starts are reported on Tuesday as interest rates continue to pressure lending. The stock market today is continuing to debate 75 BPS or 100 BPS interest rate hike and the Federal Reserve's economic forecast update. Sticking with the Fed and interest rates, following the August Consumer Price Index or CPI and Producer Price Index or PPI reports, the CME FedWatch Tool sees an 80% probability the Fed will raise interest rates by three-quarters a percentage point as it closes out its latest monetary policy meeting on Wednesday, September 21," says Chris Versace.