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Byron Wien worries about Fed-induced correction but sees market rebound

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Blackstone‘s Byron Wien on CNBC on Friday projected that Wall Street will get hit by another correction before the bull run resumes and stocks end the year higher than current levels.

Inflation will shoot up faster than most forecasts, which will drive the Federal Reserve to tighten monetary policy and likely lead to a market sell-off, the closely followed strategist told CNBC Friday.

“Maybe it’ll shrug it off, but I’m worried that now is the time that you should apply some caution,” Wien, vice chairman of Blackstone Private Wealth Solutions, told Squawk on the Street.” “The market is very fully priced, in my view, and the dangers of higher interest rates are ahead of us.”

If the Fed were…



Source cnbc.com

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