Why the Fed Should Back Off of its Rate Hike Trajectory

Real Money contributor, Stephen Guilfoyle, weighs in on the Federal Reserve.
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We all know by now that Jim Cramer's not a fan of the Federal Reserve's rate hikes. 

But, did you know that Real Money contributor Stephen Guilfoyle feels similarly?

"I think the Fed probably should back off of its trajectory for rate hikes. I think that the Fed has traveled down a very dangerous path, not just in rate hikes, but even more so in quantitative tightening," said Guilfoyle. 

I think pulling 50 billion dollars of liquidity out of the economy every month is really dangerous. I mean to compare it--I'm not saying this should be a wall on the Mexican border or not--but just for comparison's sake, they're fighting over five billion dollars on whether they should build a wall or not," Guilfoyle said. "And the Fed is pulling ten times that much or 120 times that much a year out of the economy. So it's certainly impacting liquidity in the marketplace and we see that need in the regular four, five, or six hundred point moves in the Dow Jones Industrials."

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