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It’s going to be a big week with the Federal Reserve widely expected to deliver a second 50 basis point rate hike on Wednesday. Investors will be watching closely to see what Fed Chair Jerome Powell has to say about future rate hikes after Friday’s much stronger than expected inflation data. U.S. retail sales data will give an insight into whether inflation is eroding households’ spending power and equity markets look set for another turbulent week. Here’s what you need to know to start your week.   1. Fed to hike again The Fed is all but certain to raise interest rates by another 50 basis points on Wednesday, adding to the 75 bps of rate hikes already delivered since March. A further half-percentage-point is priced in for July, with a strong chance of a similar move in September but this is less clear cut. Friday’s hot May inflation data...