RBC Strategist Says U.S. Stocks Can Withstand Two Fed Rate Hikes

06/22 18:11

On June 23, Lori Calvasina of RBC Capital Markets stated that as long as the Federal Reserve's tightening cycle remains moderate, the U.S. stock market should be able to withstand interest rate hikes. "As long as there are about two rate hikes of 25 basis points each over the next 12 months, I believe the market will ultimately be fine," said Calvasina, the bank's head of U.S. equity strategy, on Monday. "The market seems able to handle everything that is done moderately." Last week's Federal Reserve policy meeting caught traders off guard, as the new Fed Chair Kevin Warsh made it clear that he would not tolerate high inflation. However, U.S. stocks still managed to rise during the shortened trading week due to the holiday, marking the second consecutive week of gains and the 11th increase in the past 12 weeks. The S&P 500 index has risen 18% since hitting a low of 2026 on March 30.

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