FOX Business’ Ashley Webster and Lauren Simonetti analyze Thursday’s opening bell as the market reacts to inflation data hovering near 40-year highs.
Kaltbaum Capital Management President Gary Kaltbaum, during an interview on FOX Business’ “Varney & Co.” discussed the “monstrous bubble” created by the Federal Reserve as the US continues to grapple with inflation, arguing “there’s more to go” as the bubbles begin to “pop left and right.”
GARY KALTBAUM: I know everybody’s looking for a bottom or the bottom. And I just really feel the central bank has created this monstrous bubble. You’re seeing them pop left and right. It started early ’21. It’s leading to other things. And I just think there’s more to go. How much? I don’t know. But you’re seeing it in real-time. Where? Believe it or not, the NASDAQ, 50% of all NASDAQ stocks are down 50% or more and 22%, down 75% or more. I always thought there was no way we’d ever repeat 2000 to ’03 disaster. I think we’ve passed it on many names.
The Federal Reserve will wait until 2023 before raising interest rates, according to a majority of economists in a Reuters poll who nonetheless said the greater risk for the US economy was persistently higher inflation over the coming year. (AP Pho (AP Pictures)
NASDAQ LEADS SELLOFF AS STOCKS HIT FRESH LOWS
Bottoms do not happen in a day. They’re a process. And I just haven’t seen it at this juncture.
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Kaltbaum Capital Management President Gary Kaltbaum discusses market bubbles beginning to burst and how investors should prepare as the economy looks for relief.