☁️ Week 12 Update
[Week 12, 2022] 📉 Cloud stocks fell 1.6%
Cloud stocks fell 1.6% for the week ending March 25, 2022. Federal Reserve Chair Jerome Powell said inflation is “much too high” and vowed that the Fed would act aggressively to combat it. Citi, Bank of America, and Goldman Sachs all increased their expectations for interest rate increases. While Powell previously indicated 6, 25bps increases through 2022, recent comments suggest larger jumps may be needed.