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Massive inflation will likely push Fed to hike rates six times before 2024, Federated's Phil Orlando predicts
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cnbc.comA long-time market bull is tempering his outlook due to inflation.
Federated Hermes' Phil Orlando expects the Federal Reserve will lift interest rates six times over the next two years to tame massive price increases from vehicles to shelter to food.
«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,» the firm's chief equity strategist told CNBC's "Trading Nation" on Wednesday.
Orlando, whose has $634 billion in assets under management, is concerned about the latest inflation numbers. Both personal consumption expenditures and CPI are accelerating at their fast paces in three decades.
The Commerce
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