Stocks rally, gold falls as the Fed signals next major moves - Thomas Hayes
The Federal Open Market Committee left interest rates unchanged today at their September meeting.
Thomas Hayes, managing partner of Great Hill Capital, told David Lin, anchor for Kitco News, that "the earliest you're going to see a rate rise would be end of 2022, and more likely into 2023," he said.
Hayes said that tapering could commence as soon as Q1 of 2022.
“What they’re doing is setting the stage for a December announcement,” he said. “What [Powell] deemed would be necessary for them to check the box would be an employment report that came in, obviously, much better than last month.”
Value stocks are now the preferred play, over growth stocks, Hayes added.
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