U.S. executives appear to be unphased by the Federal Reserve’s potential continuation of its interest rate-hiking agenda. Cisco CFO Scott Herren is one corporate leader who refuses to be concerned by another potential rate hike as his company proceeds with business as usual. Cisco recently revealed its plans to purchase security software company Splunk for $28 billion.
“As I talk to my peers, CFOs at other companies, I think we are all monitoring the environment,” Herren explained. ” It’s time to be prudent. But they are not stopping. They are not shutting down business. By the way, you can’t ever time what’s going to come with the FOMC. I would never try to do that.”
Initial public offerings have also continued on the New York Stock Exchange, including SoftBank-owned chip designer Arm and online grocery platform Instacart. According to Yahoo Finance, several experts have affirmed that IPO activity will persist until the end of 2023 regardless of the Fed’s upcoming policy decisions.