'Hike Doesn't Change Fundamentals,' says Cetera's Goldman
Cetera CIO Gene Goldman stated the Federal Reserve's recent rate hike is a move against sticky inflation rather than a return to aggressive tightening. He noted that markets had overreacted and described the decision as likely a one-off event. Goldman emphasized that the hike does not change underlying market fundamentals.
Gene Goldman, CIO of Cetera, reacts to the inflation expectations and overall market volatility following the Fed's rate decision by telling Bloomberg's Paul Sweeney and Scarlet Fu that it's one and done (maybe two and done), not the start of something bigger. It's insurance against sticky inflation, not a return to aggressive tightening. Markets had priced in too much. Federal Reserve officials failed to adequately respond to repeated warnings about the deteriorating financial condition of…
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