by Craig Wilson
Daily Reckoning
“The US economy is coming to an extremely weak patch. Very close to recession. There is no way the Fed is going to raise rates for that reason alone.” Said Jim Rickards while speaking yesterday on CNBC.
For those that might not know Rickards, he is a best selling author and has 35 years of experience working in capital markets on Wall Street.
[…] Rickards followed this up by saying, “But if they did raise rates (let’s) look at the one time they raised rates last December alone, US stocks fell 11% in six weeks between January 1 and February 10 2016. Raising rates now would cause a similar reaction, maybe worse.”