Neuberger Berman portfolio manager Steve Eisman said the Fed would be better off just staying put as the economy shows continuing signs of strength and inflation eases. "Why would you cut? My actual fear is that if the Fed were actually to cut rates, the market becomes bubblicious and then we have a real problem," Eisman told CNBC.
If the Federal Reserve follows through on plans to lower interest rates it could lead to a stock market bubble, in the view of Neuberger Berman portfolio manager Steve Eisman. The central bank last month penciled in three potential quarter percentage point rate cuts by the end of 2023, along with multiple other cuts coming in future years. But Eisman, whose bets against the housing market were profiled in "The Big Short" movie and book, said the central bank would be better off just staying put as the economy shows continuing signs of strength and inflation eases. "My view is the economy is fine.
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