Zachary Hill, head of portfolio strategy at Horizon Investments, told CNBC it’s too early to shift focus from inflation to growth.
Dow Soars for a Fifth Straight Day, S&P 500 and Nasdaq On Track to Halt 7-week Losing Streaks
“We view this week’s rally in equity markets as technical in nature and not a change in the overall trend,” he said. “Tighter financial conditions suppressing demand in the real economy remain the channel through which the Fed hopes to cool inflation. Until that changes, rallies like we are seeing in equity markets this week, while somewhat expected after almost two months of relentless declines, are likely to be short-lived.”
