Some central bank watchers believe the Fed and the ECB will have to stop their tightening cycles because of an upcoming recession. Central banks around the world might have embarked upon a path of aggressive rate hikes but not everyone is expecting this approach to last. The U.S. Federal Reserve and the European Central .
The stock market actually rose Wednesday in the immediate aftermath of the Fed's decision to raise rates by a whopping 0.75% . Thursday, not so much. Major indexes fell more.