Markets are also set to decline as the tech fuel rally on Wall Street ended.
— CNBC's Sarah Min and Alex Harring contributed to this report
Its picks are buy-rated names"whose exposure to enduring themes complements a compelling equity story," according to a research note published Aug. 21.Philadelphia Federal Reserve President Patrick Harker said Thursday he doesn't see the need for further interest rate hikes and could see cuts happening in 2024 depending on data.
He added that he has heard from multiple business leaders in his district that they would like to see the Fed stand pat for a while and let the string of 11 rate increases work their way through the economy.
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