“The Federal Reserve isn’t trying to kill the economy, it’s just trying to end free money,” said veteran strategist John Stoltzfus.
“Free money is bad in our view in that it encourages all kinds of speculation, it inflates asset classes.. and it creates instability in the economy,” added Oppenheimer’s chief asset management strategist.
Stoltzfus’ comments come on the heels of last month’s jobs data highlighting continued tight labor market conditions. Market watchers see the latest print as an ‘all clear’ signal for the Fed to keep hiking rates aggressively in order to tame inflation.
