Asia-Pacific markets to rise after U.S. sees gains on optimism led by regional banks
5 Hours Agomay hike interest rates by 25 basis points when it meets this week, despite the banking crisis, but "that would be a mistake," said MKM Partners' chief economist, Michael Darda.
"A backward looking monetary policy will put us into perpetual boom and bust cycles and we are moving into the bust phase now," Darda said in an interview with CNBC's "However, looking forward will take a leap of faith and the Fed doesn't want to do that, he said. "While the bond market is increasingly betting on a pause in rate hikes, the equity market is expecting a 25-basis point hike," the chief of investment research said. "If the Fed pauses its tightening, we expect panicked reactions by equity and bond investors."
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