Investors are underestimating how determined Federal Reserve Chairman Kevin Warsh is to bring inflation back to the central bank’s 2% target and the likely drag that will create on risk assets, according to Citadel Securities.
Nohshad Shah, the firm’s head of EMEA fixed-income sales, said in a note to clients that the recent decline in oil prices does little to weaken the case for the Fed to hike interest rates, given that underlying inflation pressures remain elevated.
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