By plowing ahead with rate increases, which most economists expect by mid-year, the Fed may further jeopardize the strength of the U.S. expansion, according to Krishna Memani, the New York-based chief investment officer of OppenheimerFunds’s $79.1 billion of fixed-income assets.
“That’s probably the thing that ought to scare the Fed a lot more,” he said. “It may come back to bite them.”