Odeon Capital Group chief financial strategist Dick Bove joined "Mornings with Maria" Friday, arguing that the Fed raising interest rates will "create a recession" and "to kill inflation" they will need to "lower demand below supply."
DICK BOVE: We are going to have to see interest rates go up fairly significantly. We are going to have to cut the size of the Federal Reserve balance sheet. It is going to create a recession. Stock prices are going to do poorly between now and the end of the summer… [Jerome Powell is] kind of warning you that these bad things are going to happen.
I don't think how he can avoid them. Essentially what he has to do to kill inflation is he's got to lower demand below supply and to lower demand below supply, you've got to stop printing money… you got to increase the cost of that money, both of which I think the Fed will do.
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