The Fed raising interest rates will ‘create a recession’: Dick Bove
Odeon Capital Group chief financial strategist Dick Bove argues that ‘to kill inflation’ the Fed will need to ‘lower demand below supply.’
Odeon Capital Group chief financial strategist Dick Bove joined "Mornings with Maria" Friday, arguing that the Fed raising interest rates will "create a recession" and "to kill inflation" they will need to "lower demand below supply."
INFLATION HAS ERODED 40% OF SOCIAL SECURITY'S PURCHASING POWER SINCE 2000
DICK BOVE: We are going to have to see interest rates go up fairly significantly. We are going to have to cut the size of the Federal Reserve balance sheet. It is going to create a recession. Stock prices are going to do poorly between now and the end of the summer… [Jerome Powell is] kind of warning you that these bad things are going to happen.