S1E6: Listen to our 5-tip action plan in face of interest rate hikes and looming recession: Invest Talk

Synopsis: Every first and third Monday of the month, get our tips on working smarter, getting ahead in your career and investing like a pro with ST's business correspondents and editors. Host Ven Sreenivasan - associate editor at The Straits Times - offers you an extra edge in managing your hard-earned money. In this episode, Ven speaks with Mr Vasu Menon, executive director for investment strategy at OCBC Bank, about how the US Federal Reserve has just hiked up its key short term rate by another 75 basis points, the 6th consecutive hike this year and 4th consecutive 75 bps hike.  There is widespread expectation of an economic slowdown and even a recession next year. They discuss how things can pan out and how young adults can cushion themselves against the worst effects of a recession. Highlights (click/tap above): 1:37 What is the Fed rate hike, and why is the US Federal Reserve raising rates? 5:23 Impact of rate hikes on countries such as Singapore 7:29 Mr Menon's 5-tip action plan for young investors: Safe product types to invest in, speak to your bank, budget for what you need, set aside 12 months of funds in case you lose your job in a recession 9:15 5th tip: For long-term investing, why you should monitor the technology and ESG sectors, and healthcare and utilities, and financial sector 10:05 What will be the catalyst for a sustained market rebound? Register for ST's Head Start newsletter:  https://str.sg/stnewsletters Produced by: Ven Sreenivasan ([email protected]), Ernest Luis and Teo Tong Kai Edited by: Teo Tong Kai Follow ST's new Your Money & Career Podcast channel here: Channel: https://str.sg/wB2m Apple Podcasts: https://str.sg/wuN3 Spotify: https://str.sg/wBr9 Google Podcasts: https://str.sg/wVpX SPH Awedio app: https://www.awedio.sg/ Read Ven Sreenivasan's articles: https://str.sg/wuQe Website: http://str.sg/stpodcasts Feedback to: [email protected] --- Discover more ST podcast channels: In Your Opinion: https://str.sg/w7Qt Asian Insider: https://str.sg/JWa7 Health Check: https://str.sg/JWaN Green Pulse: https://str.sg/JWaf Your Money & Career: https://str.sg/wB2m ST Sports Talk: https://str.sg/JWRE #PopVultures: https://str.sg/JWad Music Lab: https://str.sg/w9TX Discover ST Podcasts: http://str.sg/stpodcasts Discover BT Podcasts: https://bt.sg/pcPL --- Special edition series: The Unsolved Mysteries of South-east Asia (5 eps): https://str.sg/wuZ2 Invisible Asia (9 eps): https://str.sg/wuZn Stop Scams (10 eps): https://str.sg/wuZB Singapore's War On Covid (5 eps): https://str.sg/wuJa --- Follow our shows then, if you like short, practical podcasts! Do note: All analyses, opinions, recommendations and other information in this podcast are for your general information only. You should not rely on them in making any decision. Please consult a fully qualified financial adviser or professional expert for independent advice and verification. To the fullest extent permitted by law, SPH Media shall not be liable for any loss arising from the use of or reliance on any analyses, opinions, recommendations and other information in this podcast. SPH Media accepts no responsibility or liability whatsoever that may result or arise from the products, services or information of any third parties. #moneycareerSee omnystudio.com/listener for privacy information.