Even one round of interest rate hikes by the Federal Reserve did very little to curb raging inflation meaningfully, which led to a slightly tighter policy in the second round. On top of that, fears of a recession were fanned further when Fed Chair Jerome Powell refused to take the chance of a “soft landing” off the table. He hinted that the policy may have to be tightened more hawkishly, notwithstanding the recession that can result from it. Bearing these situations in mind, investors have been jittery, scrambling to settle on safe bets to reallocate their money into.