Fed created ‘monstrous bubble,’ Market expert says

Kaltbaum Capital Management President Gary Kaltbaum, during an interview on FOX Business’ “Varney & Co.” discussed the “monstrous bubble” created by the Federal Reserve as the US continues to grapple with inflation, arguing “there’s more to go” as the bubbles begin to “pop left and right.”

GARY KALTBAUM: I know everybody’s looking for a bottom or the bottom. And I just really feel the central bank has created this monstrous bubble. You’re seeing them pop left and right. It started early ’21. It’s leading to other things. And I just think there’s more to go. How much? I do not know. But you’re seeing it in real time. Where? Believe it or not, the NASDAQ, 50% of all NASDAQ stocks are down 50% or more and 22%, down 75% or more. I always thought there was no way we’d ever repeat 2000 to ’03 disaster. I think we’ve passed it on many names.

The Federal Reserve will wait until 2023 before raising interest rates, according to a majority of economists in a Reuters poll who nonetheless said the greater risk to the US economy was persistently higher inflation over the coming year. (AP Pho (AP Images)

NASDAQ LEADS SELLOFF AS STOCKS HIT FRESH LOWS

Bottoms do not happen in a day. They’re a process. And I just have not seen it at this juncture.

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