The US Fed may raise interest rate a lot higher than previously anticipated, making it difficult for the market to adjust, but the greater damage is being caused by geopolitical events such as the Ukraine war and the clouds over Taiwan, he said.
Oil Price Today (August 24): Crude oil slips below $93 ahead of US sanctions announcement on Iran. What are experts saying?
US Treasury Secretary Scott Bessent, who is scheduled to hold a press conference at 2 p.m. EDT (1800 GMT) on Monday, has threatened to impose