As Federal Reserve Chairman Jerome Powell prepares to announce the central bank’s next rate move, one Fed watchdog and financial expert warned of “the final consequences” coming for U.S. markets.
“The tension is between the expectation of a resumption in the stock market, a bull market on the one hand, and on the other, the structure of things that were brought about by a dozen or so years of artificially low interest rates,” Grant’s Interest Rate Observer founder and editor Jim Grant said on “Mornings with Maria” Wednesday.
“Throughout the economy in odd spots,” he continued, “there are already surfacing adverse consequences of this really long, and I think ill-advised, experiment in rate suppression.”