top fixed income investor says multiple industries could find themselves in trouble if the Federal Reserve continues to raise interest rates.
Rieder said businesses in the housing, commercial real estate, and automotive sectors could suffer most this year. Fed chair Jerome Powell said it was critical the central bank retains the ability to manage as inflation sees fit — raising interest rates to control inflation even if that means slower growth and higher unemployment.
On Monday, San Francisco Fed President Mary Daly said she expects the U.S. central bank to raise rates past 5% and hold them there to bring inflation under control.
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