Morgan Stanley: The Fed's Gotta Hike Rates Like It's 1999
The market still needs its hand held.
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Yeah hey, they say zero zero party over, oops, out of time/ So tonight I'm gonna party like it's nineteen ninety-nine - Prince, 1999
At some point—perhaps tomorrow—the near-zero interest rate party of the past seven years will come to an end. And like the Y2K bug at the turn of the millennium, there's no shortage of worries about the potential systemic risk stemming from liftoff.