Fed is 'tone deaf' to hike rates given debt, banking risks: Rosenberg

by CEO Jamie Dimon's JPMorgan this week has reignited worries about broader financial instability.

"We have a possible debt default on our hands and a spreading bank crisis , and the Fed is going to raise rates tomorrow. Focused on an inflation rate that is actually LOWER now than it was in July 2008. These guys are tone deaf," heThe Fed is widely expected to raise its benchmark rate by another 25 basis points this week. It has boosted borrowing costs from almost zero in March 2022 to about 5% today, the steepest jump since the 1980s.

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