The May record for inflation in the U.S. showed that the measures taken by the Fed to curb it are not effective enough, experts believe. In view of this, it may resort to a tougher monetary policy, including a more aggressive rate hike. However, this raises concerns of market participants, as it could have a negative impact on the global economy and provoke a global recession. The decline of the S&P 500 index on Monday reached 22% since the beginning of the year, which moved it into the "bear market" zone. In all but one such case in the last 50 years, the U.S. economy has gone into recession within a year, writes the online edition of Expert. The focus of investors' attention today is the Fed meeting, the results of which will be known by this evening Moscow time. Analysts expect the regulator might raise its key rate by 0.75-1 bps. - To such opinion the majority of the respondents interrogated by CME Group is inclined. Earlier an increase by 50 b. p. was forecasted.