**__ Diplomatt’s Daily Digest – June 16, 2022__**
Good morning and happy Thursday, everyone! It looks like Wall Street is looking to open in the red following the post-fed rally. Those moves come after the Federal Reserve implemented its largest interest rate hike since 1994 on Wednesday. The Fed raised rates by 75 basis points, as was widely anticipated. Federal Reserve Chair Jerome Powell said Wednesday the central bank could raise interest rates by a similar magnitude at the next policy meeting in July. Additionally, market sentiment appeared to sour once even further as other central banks around the globe adopted more aggressive policy stances. Alll in all, rampant inflation, which is at the highest level in 40 years, has weighed on the major averages, as have fears around slowing economic growth and the possibility of a recession.
Quote of the week: “The best revenge is not to be like your enemy.” – Marcus Aurelius