, and they're going to raise rates til they get lower inflation. How are they going to do that? They're going to slow demand down."
According to Bianco, the Fed's only solution is to boot interest rates quickly and get wealthy people to stop spending. The bond market is already discounting the central bank's likely bold moves.," he wrote in a recent Twitter thread."This is not only the worst bond market in our career but might be the worst of our lifetime."
Bianco, who sees a 75% chance of inflation within the next two years, expects a 50 basis point hike at its next policy meeting on May 3 through May 4. "It will be 50 [basis points] all the way through until the Fed basically raises rates too much and breaks something. And, then they'll be done. But, they're not going to go back to 25," he said."If the stock market wants to go up, maybe they should be talking about 75 instead of 50.""They don't want to create the mistake in the other direction by being too timid right now. That's out the window now," Bianco said.
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