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Below isView on US Fed by Mr Vikas Gupta, CEO and Chief Investment Strategist, OmniScience Capital

"Worried about the Street going crazy speculating on all asset classes including commodities, thus making the fight to control inflation more difficult, the Fed chose the hard decision to increase the interest rates but hinted that we are near the peak. Speculators in the Street were disappointed resulting in an immediate fall in the market.

 Overall, we don't think it matters that much. We are near the peak. The Fed Vice Chair is working on the measures to stabilize the financial system and we should hear about those soon.

All other macro-economic data in terms of GDP growth, jobs, unemployment is positive. And inflation is consistently going lower. Companies should start reporting better earnings from the second half of the calendar year 2023.

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