In a CNBC interview over the week, a major hedge fund manager predicted that “massive inflation” will lead the Fed to hike interest rates six times by 2024. Crypto traders are keeping a close watch on the macro-financial environment as they wrap up another volatile month.
Federated Hermes has over $600 billion in assets under management. Phil Orlando, the investment firm’s chief equity strategist, has been a long-time stock market bull but expects the big changes at the Federal Reserve to dampen this year’s surging stock market rally.
Orlando: Big Inflation and Fed’s Actions
Speaking to Stephanie Landsman on CNBC’s “Trading Nation” Wednesday, Orlando projected a slew of rate hikes ahead, but probably not until Q3 of next year:
“Our best guess is that we will see two quarter point rate hikes out of the Fed in the second half of next year, and perhaps another four quarter point rate hikes over the course of calendar ’23.”
While the White House administration and Fed
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