“[The Fed] increasingly has a problem with the marketplace,” he said.
“I don't think the market has factored in yet what's going to happen to the economy,” he said.
Malik sees the end of the rally approaching, but says there are still stock bargains.
Market projections already are building in rate hikes for next year.
Low rates make it harder for Americans to save for retirement, MetLife's chief market strategist said.
Though Brian Nick thinks post-stimulus growth has peaked, he's still optimistic on stocks.
Consumer prices are rising at the fastest pace since 2008 as the economy reopens and Americans renew spending.
Yet the plan does not make child-tax credit increases from the recent stimulus permanent.
The increased size, lower quality and lack of liquidity in corporate bond markets are all red flags, he said.
Investors should also be cautious about investing in Europe, said the Allianz chief economic advisor.
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