Odds of U.S. ‘hard landing’ rising after Fed’s refusal to pause rate hikes earlier this year, warns Cam Harvey

Odds of a “hard landing” in the U.S. are rising, warns Campbell Harvey of Research Affiliates.

That’s because the Federal Reserve has this year continued battling inflation with interest-rate increases, on top of aggressive rate hikes over the past year, to compensate for being too slow to realize the surge in cost of living was not temporary, said Harvey, director of research at Research Affiliates, in a note. 

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