In his recent Jackson Hole speech, Jerome H Powell, chair of the Federal Reserve of the United States, made it clear that further interest hikes are in the pipeline on fears of still high inflation levels. He announced that inflation is now the number one priority. The Fed took this stance even though markets started to see commodity prices decrease. Inflation in the US shows signs of easing. Oil prices have gone south on fears of demand shrinking, albeit volatility in the oil prices remains a cause for concern. Further, Canada is to increase gas production and export to Germany in an effort to ease energy prices. The argument against further interest hikes stands on two grounds. Firstly,
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