During a recession, shares in companies which provide consumer stables: Energy, processed foods, even Netflix (staying in will become a necessityfor many) Are the best hedge. Especially good are those with inelasticity - energy, possibly alcohol, pharmacy. Companies which can pass on increased costs and maintain profit margins to provide dividends. This will be a divided game for some time.
75bp After 6 Months of rate rises, no need to increase rate in a big move. Regular increases overthis many months have not worked their way through economy, yet. There's a lag between the interest rate rise and effect in CPI
$Apple(AAPL)$Is likely still dealing with parts shortages following the pandemic. In addition, theGlobal recession could see reduced sales for high end technology-better keep quantities low.
Likely Yes, Market will continue to drop to June low. Market was optimistic rate hikes were nearing completion. Unfortunately Powell's speech did not confirm this belief. Also previous interest rate increases will begin to bit during September