Billionaire Investor Rubenstein Cautions Patience with Markets, Sees Rate Cut in 2023
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Billionaire investor David Rubenstein warns investors not to rush into markets when they are going up or rush out when they are going down.
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Rubenstein says stock prices are pretty high right now and may go up a bit more but likely not by 50%.
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He says the economy is doing well overall and a recession does not seem imminent in the next few quarters.
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Inflation has come down a bit but is still above the Fed's target. Rubenstein expects a Fed rate cut sometime in 2023.
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Rubenstein predicts the Fed will likely cut rates in Q2 2023 to avoid appearing political and influencing the 2024 election if they cut rates in Q3 or Q4.