Shares in the Asia-Pacific opened lower Wednesday, following Wall Street’s negative lead as investors await the Fed’s interest rate decision.
Fed should prioritize soft landing, says Lazard's Temple
Even though the Federal Reserve is set to deliver its third consecutive 0.75 percentage point rate hike this week - tripling the pace of tightening - they should be careful not to throw the economy into a recession, said Ron Temple, head of U.S. Equity at Lazard Asset Management. "Inflation is unacceptably high, and investors, politicians, and consumers are anxious, but patience is a virtue," said Temple."Monetary policy works with long and variable lags.""The Fed should avoid the temptation to overreact to recent data and keep their eyes on the goal of achieving the softest landing possible," he said.
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