To The Moon

As broadly expected by the market, the Fed has lifted its rate by another 25 basis points after it is caught between a sticky inflation and a struggling economy that has plagued by increasing retrenchments amidst demand slowdown and strained by bank failures lately.

However, rate cuts this year appear to be off the table, as the Fed remains determined in its pursuit of its 2% inflation target that looks distant given the still strong labour market.

While the stock market has been beaten down since the beginning of the Fed’s hiking cycle, I’ve benefited from the multiple folds increase in my monthly interests on my war chest which I’ve looking forward to deploy, as I expect the recent banking sector fallout and resulting slowdown in credit and lending activities will help to perform much of the heavy lifting on restricting economic activities and taming inflation on behalf of the Fed, so that hopefully the latter is closer to pausing its rate hike, lest the economy plunges into a deeper recession that the Fed would welcome.

Hence, I’ll look beyond prevailing market turbulence and add to my holdings on fundamentally strong blue chips like our local banking trio $DBS GROUP HOLDINGS LTD(D05.SI)$ , $OVERSEA-CHINESE BANKING CORP(O39.SI)$ and $UNITED OVERSEAS BANK LIMITED(U11.SI)$ , and the broad market like the S&P 500 ETF $Vanguard S&P 500 ETF(VOO)$ , which I believe will prevail and emerge stronger over time.

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