'Hike Doesn't Change Fundamentals,' says Cetera's Goldman

Gene Goldman, Chief Investment Officer of Cetera, said in an interview with Bloomberg that the Federal Reserve's recent rate increase is "insurance against sticky inflation" rather than the beginning of an extended tightening cycle. Goldman characterized the move as a single action, or possibly two actions at most. A separate draft report found that Federal Reserve officials did not adequately respond to warnings about Silicon Valley Bank's deteriorating financial condition before its 2023 failure, according to Fed Vice Chair for Supervision Michelle Bowman and others familiar with the document.

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