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Keith McCullough, founder and CEO of Hedgeye Risk Management, said the Federal Reserve will be tightening monetary policy into a Quad4 slowdown because it did not raise interest rates when it should have.
McCullough made this assessment after Federal Reserve official Williams was quoted as saying inflation remains too high and that it is essential to bring it back to 2% in a timely manner.
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McCullough has recently commented on equity market volatility across Asia. He reported that Indonesia's stock market fell 3.6 percent overnight, bringing monthly losses to 22.4 percent. He also noted that South Korea's stock market declined by 5.3 percent in the latest session, extending its total drop to 41 percent from the recent high.