Fed Risks 70’s Mistake If It Cuts Rates Too Soon, T. Rowe Says
- It is ‘dramatically neutral’ between stocks, bonds: CIO Veiel
- Firm finds commodities interesting, is overweight energy
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The Federal Reserve could risk losing its credibility if it cuts interest rates too soon, according to Eric Veiel, chief investment officer and head of global investments at T. Rowe Price Group Inc.
“Jerome Powell said very early on he is a student of what happened in the seventies,” he said on Bloomberg Television. “If they go ahead and start cutting now, I think they are in danger of making the same mistake.”