TheFederal Reserveis expected to raise interest rates again on Wednesday, continuing its year-long push to curb inflation.
They had invested in various venues under the assumption that the low rates would continue.
For a long time, I have advocated for the Fed to be raising rates.
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Even I believe now they need to hit pause.
Theyve gone too far, too fast.
They need to understand the impact on the financial system and the economy.
Some of that culture of secrecy is at least partly intentional.
for retain its focus, it would have to be free from partisan politics.
Theres a lot of myopia there, Jacoby said.
History has shown that they should start to think more about the unintended consequences of their policies.
Even the terminology used by the Fed to communicate its moves has a stilted, inaccessible vernacular.
Theres an absolute analogy to the Vatican.
Everythings there except for the white smoke, Jacoby said.
They might as well be speaking Latin.
Once the smoke clears, what will the effect be on Hollywood and Big Tech?
Jacoby said the landscape is likely to be dramatically reshaped if rates remain elevated.
For starters, he said, the M&A frenzy is over.
There are reasons for concern, he said.
The unknowns here are worrisome.
This is a big pullback and its going to have big ripple effects.
