• Markets are blindly expecting the best - but inflation might not cool to the Fed's 2% target until late 2024, says Federated Hermes' top stock-picker

    6 days ago - By Business Insider

    Investors are overestimating how sticky inflation will be, according to Phil Orlando of Federated Hermes. Spencer Platt/Getty Images
    It's too optimistic to think interest rate rises are done, says Federated Hermes' chief strategist.
    "The market is whistling past the graveyard and expecting the best thing to happen," Phil Orlando said.
    It could take until the end of 2024 for inflation to fall to the Fed's 2% target, he added.
    Inflation could remain a threat to markets for another two years despite the recent rally in equities, according to Federated Hermes' top stock picker. Phil Orlando...
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