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As the Federal Reserve keeps raising interest rates in its attempt to bring down inflation, it's running the risk of triggering a considerable economic slowdown, according to Invesco's chief global market strategist Kristina Hooper.
"When you are raising rates in 75-basis-point increments and you're not giving any time for it to process through and make its way through into the data, you're playing a dangerous game," Hooper said on a Bloomberg podcast. "And the more you're doing it, the more likelihood you create of having a recession—and a significant recession."
Since March this year, the Fed has raised benchmark interest rates by 300 basis points, pushing it up from a range of 0.25 to 0.50 percent to a range of 3 to 3.25 percent. The last three increases have been 75 basis points each....