Fed's Actions Threaten U.S. Bull Market Rally

The Federal Reserve's policy meeting this week could potentially deliver a hawkish jolt to markets, even if it refrains from raising rates. Concerns are rising that an uncomfortably strong reading on May inflation could push the central bank towards delivering a rate hike on Wednesday despite intimating that it plans to abstain. The changing character of the market has become more acute after the Bank of Canada delivered a surprise interest-rate hike, ending a four-month pause. Stocks could be in for more turbulence if the Fed signals it plans to follow suit with a hawkish surprise of its own.