Rockefeller’s Greg Fleming urges caution on equities for rest of 2022

Financial Times/Brooke Masters and Madison Darbyshire/9-4-2022

“Inflation is now at 8.5 per cent and the Fed’s target range is 2.25 to 2.50 per cent. ‘The fed funds rate has to cross before the Fed starts to pull back. They are going to want to make sure they’ve got inflation under control,’ Fleming said.”

USAGOLD note: Rockefeller Capital’s Fleming expresses a view very much in line with our own on what it will take for the Fed to truly tame inflation. In considering a crossing of the Fed funds and inflation rates, we should keep in mind that the jury is still out on whether or not the inflation rate peaked at 9.1%.

Fed funds rate and headline inflation rate
(%, five-year)

Chart courtesy of

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