Yield curve pioneer Campbell Harvey warned the Federal Reserve against raising rates again later this year, telling FOX Business on "The Claman Countdown" that a recession might still be coming in 2024. The yield curve, which depicts the ultimate yields for long-term and short-term bonds, remains inverted, host Liz Claman said, reporting that three-month treasuries appear to be paying out more than longer-term T-bills. BLACKROCK'S LARRY FINK ON WHY HE WON'T REFERENCE ‘ESG’ ANYMOREHarvey said the yield curve inversion, at 212 days thus far, is not at its average length, which he projected would be sometime in 2024. "The average length is more like 13 months, so what it's pointing to is a recession in 2024," he said. Harvey added that the Fed potentially raising rates again, given his analysis, would push the U.S. markets into a "hard landing."

Source: Fox News September 15, 2023 21:01 UTC