Two ratings agencies put the U.S. credit rating under review amid the risk of Congress failing to reach an agreement on the debt ceiling.
Still-high U.K. inflation will keep the Bank of England on a tightening path, money managers said.
The era of free money is over, so invest accordingly, said Janus Henderson Group CEO Ali Dibadj at a conference.
The Federal Reserve's first, tentative move to restructure its balance sheet sparked 2013's taper tantrum, and it remains a work in progress.
Due to turmoil in the banking system, the Fed may not have to raise interest rates as high to rein in inflation, Chairman Jerome H. Powell said.
The Bank of England delivered its 12th consecutive interest-rate increase, hiking to 4.5%.
April's lower-than-expected inflation figure may give the Fed an excuse to not hike interest rates at its June meeting, asset managers said.
The strong April jobs report may add to institutional investors' uncertainties about inflation and increase market volatility.
Money management executives warned that the European Central Bank is in "policy mistake territory" amid continued interest-rate hikes.
Federal Reserve officials approved a third consecutive quarter-point interest rate hike as the central bank navigates elevated inflation.