Fed Rate Hikes May Be Fueling Inflation Instead of Slowing It Down, Says Market-Beating Fund Manager
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The Fed's rate hikes may be fueling inflation instead of slowing it down according to a market-beating fund manager.
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Higher rates have not hurt consumers as much as expected since many locked in low long-term rates.
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Mortgage rates have restricted housing supply, propping up home prices and inflation.
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Poorer consumers are being hurt more than others since they have less fixed rate debt.
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The fund manager making this argument has beaten the market for years.