🚨 THE FED JUST GOT ANOTHER REASON TO CONTINUE RATE HIKES. S&P Global Composite PMI just came in at 58.4, its highest level in 5 years. This shows that the manufacturing sector in the US is getting stronger, and it indicates a strong economy. At the same time, inflation is at 3.4% and is expected to rise because of rising oil prices. If the economy is strong and inflation is rising, the Fed gets more room for rate hikes. That's why the odds of another rate hike this year have jumped to 90%, as the market thinks the Fed will remain hawkish.