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The Federal Reserve Needs to Raise Rates to Make Room For Possible QE4: Chief Strategist

9/01/15 8:39 AM EDT
Kitco News -- As markets digest the recent central bank meeting in Jackson Hole, Wyoming, one market participant said that the U.S. Federal Reserve has ulterior motives to push up an interest rate hike sooner rather than later. Keith Fitz-Gerald, chief investment strategist for moneymorning.com, noted that the central bank needs to raise rates to allow for a potential fourth round of quantitative easing. ‘The Fed wants desperately to raise rates not because there is inflation but in the event they have to do QE4,’ he said in an interview with Kitco News. The central bank has held short-term rates near zero since December 2008; the impending end of that era may be around the corner. Fitz-Gerald acknowledged, it is counter-intuitive to think they would raise rates to print money, but said it is the only option the central bank has.
Stocks in this video: GLD
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