The recent federal Open Market Committee (FOMC) meeting minutes have indicated that the Fed is inclined towards more hikes in the near future to curb inflation. However, the global markets have mostly discounted this. Investors would wait for more clarity on when the inflation would start cooling and the Fed would pivot, which could then lead to the next bull-market in equities. But till then, we could see the markets oscillating within a broad range; and thus, we expect some time-wise correction in the short term.