Market Insider: Stanley Druckenmiller Says the Fed is Like a 'Reformed Smoker,' While Jeff Gundlach Warns it's Driving the US into a Dumpster
Article by Zahra Tayeb in Market Insider
The inflation shock last week has cemented in the view the Fed will raise interest rates by at least 75 basis points at its meeting next week. But it will mean yet another oversized increase from the central bank for its fifth rate hike this year.
There are worries the Fed's paying too much attention to inflation data releases, because they don't reflect what's happening at the time.
That lag means policymakers run the risk of overtightening, at a point when the economy needs some relief — and that would hit stocks hard.
Here what six straight-talking investors and Fed watchers say about its interest-rate campaign and the chances it will cause pain for the economy and markets.
1. Stanley Druckenmiller: The Fed's abrupt shift after years of easy money signals a bleak outlook for stocks.
"Now they're like reformed smokers," Druckenmiller said. "They've gone ......
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