In the most recent Federal Open Market Committee (FOMC) meeting on 15^th June 2022, the US Federal Reserve (Fed) raised interest rates by 75 basis points (bps) to 1.50% after a shocking CPI data was released on the previous Friday, showing that inflation surged by 8.6% on a YoY basis. This quickly led to investors pricing in a 75bps hike instead of earlier expectations of 50bps as expectations grew on the Fed to combat inflation. The Fed is also projecting for interest rates to be between 3.1% to 3.6% in 2022, followed by a 50bps increase in 2023 before seeing interest rates come down in 2024. This means that there are expectations of roughly another 150bps of hikes in the 4 remaining FOMC meetings this year. Higher interest rates dampen economic sentiments, consequently, the Fed has revised real GDP growth lower to 1.7% from its March 2022 projection of 2.8%....