Bruce Richards: “After 15 months and 10 straight hikes… they’re done after today.”
Mr. Richards believes that the Fed is done raising rates now but that they also won’t be lowering rates for a while. He believes that with student loan payments starting again later this year for over 1/5 of the work force or for 30 million people, about $100B annually of consumption demand will be taken out of the economy. He did not mention how the Student Debt Relief Plan being affirmed by the Supreme Court would alter his view though.
