Market Views: Are US equities headed for a big correction in 2022?

The US equity market is trading resiliently this week, despite headwinds from the Omicron variant, inflation, and more rate hikes — although it’s uncertain how long this can last.  The Federal Reserve held its most hawkish meeting in recent years last week, signalling three interest rate hikes in 2022 in response to decades-high inflation. This projection is up from the September meeting, when half of the Fed members saw at least one rate hike in 2022. The central bank also rais…