Fed to Stay Focused on Inflation, Markets Will Be Volatile: UBS Global Wealth

Fed to Stay Focused on Inflation, Markets Will Be Volatile: UBS Global Wealth
The Federal Reserve building is pictured in Washington on Aug. 22, 2018. Chris Wattie/Reuters
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MUMBAI—The U.S. Federal Reserve will not back away from “talking tough” on the markets until there is significant progress on inflation, which will perpetuate volatility into mid-2023, UBS Global Wealth Management’s chief investment officer said on Monday.

Mark Haefele told the Reuters Global Markets Forum he saw the S&P 500 ending the year at 3,900 points and around 4,200 by next summer, compared to its current 4,057 level.