Home » Economy » 'Shark Tank's' Robert Herjavec most worried about Fed's 'maniacal' rate hikes weakening the economy
'Shark Tank's' Robert Herjavec most worried about Fed's 'maniacal' rate hikes weakening the economy
Robert Herjavec more worried about Fed’s ‘maniacal’ rate hikes, over interest rates themselves
Cyderes CEO and ‘Shark Tank’ star Robert Herjavec argues interest rates will ‘catch up to us’ and the economy will ‘hit a wall.’
"Shark Tank" star and Cyderes CEO Robert Herjavec used "strong" language on "Varney & Co." Monday to describe the current state of the economy but stopped short of forecasting a "nasty recession" ahead.
"I worry more about the Fed and this maniacal drive with interest rates, than I do with the actual interest rates," Herjavec told FOX Business’ Stuart Varney. "Is there any reason why we need to get up 75 basis points?"
Herjavec emphasized the financial impact of decades-high inflation and how it’s "hurting" American families, but argued against the Federal Reserve hiking rates at an aggressive pace.
In their last meeting, the Fed raised its benchmark interest rate by 75 basis points for the third straight month as it struggles to bring scorching-hot inflation under control, a move that threatens to slow U.S. economic growth and exacerbate financial pain for millions of households and businesses.
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