The Fed Is Playing a ‘Dangerous Game’
The central bank is raising rates too high and too fast to see their effect, Invesco’s chief global market strategist warns.
Jerome Powell, chairman of the US Federal Reserve.
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The stock market has been getting very volatile as the US Federal Reserve continues its historic effort to squash rising prices. Proclamations from policymakers suggest the central bank won’t let up until inflation is under control—even if it means trouble for the economy. Officials may raise rates by another 75 basis points at their upcoming November meeting, and the same again in December, according to Kristina Hooper, chief global market strategist at Invesco.