Massive inflation will likely push Fed to hike rates six times before 2024, Federated's Phil Orlando predicts

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A long-time market bull is tempering his outlook due to inflation. Federated Hermes' Phil Orlando expects the Federal Reserve will lift interest rates six times over the next two years to tame massive price increases from vehicles to shelter to food. «Our best guess is that we will see two quarter point rate hikes out of the Fed in the second half of next year, and perhaps another four quarter point rate hikes over the course of calendar '23,» the firm's chief equity strategist told CNBC's

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