News analysis

Investors fear US Fed may hurt growth with rate hikes

Time will tell if the Fed's move is a policy mistake or responsible policymaking

United States Federal Reserve chairman Jerome Powell is beginning to look like the Grinch who stole the much longed-for Santa rally from stock markets across the world.

Investors had hoped for a less aggressive approach from the Fed after Wall Street slipped into correction territory on concerns over slowing growth.

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A version of this article appeared in the print edition of The Straits Times on December 21, 2018, with the headline 'Investors fear US Fed may hurt growth with rate hikes'. Print Edition | Subscribe