Morgan Stanley Economist Says Fed Is Not ‘Out of the Water’ After Hold
Michael Gapen says the economy can handle 75 basis points in total rate hikes. The Fed is scheduled to decide policy Tuesday, with markets expecting rates to hold steady.
The Federal Reserve is set to meet for its October policy decision on Tuesday, with markets overwhelmingly expecting the central bank to hold rates steady after a 25-basis-point hike at its previous meeting.Morgan Stanley’s chief U.S. economist Michael Gapen agrees with the market, saying that whil…