Over the weekend, several media outlets reported that Credit Suisse sought to assuage investors’ concerns over its financial health
A long-time critic of the Fed's approach to the rise of prices, Sri-Kumar said the latest events surrounding Credit Suisse shows the"real danger of having miscalculated inflation for such a long time."
"They are trying to make up for it by doing everything in a hurry," he said, referring to the Fed's continued hawkish policy and pledge to continue hiking interest rates to tamp down on inflation., the central bank raised its benchmark rate by three-quarters of a percentage point and indicated it will keep raising rates well above the current level."It carries an enormous amount of risk to the global system in terms of what the various central banks are doing," he said.
The latest reports of Credit Suisse's actions to calm concerned investors could point to an eventual shift in the Fed's direction, said John Vail, chief global strategist at Nikko Asset Management. "The silver lining at end of this period, is the fact that central banks will probably start to relent some time as both inflation is down and financial conditions worsen dramatically," he said on CNBC's"Squawk Box Asia" Monday.
"I don't think it's the end of the world, but it could get scary for the next quarter or so," he said.
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