Former U.S. Treasury Department economist David Beckworth agreed that the Federal Reserve will struggle to build a strong economy while it's already slowing, on "Mornings with Maria" Friday, warning the proposed five rate hikes would be "too much for the market to bear."
DAVID BECKWORTH: The best thing [the Fed] can hope for, again, is that the COVID ordeal ends quickly, because once COVID ends, we'll have more people going back to work. Some of the supply chains will ease up chips, cars will be more available.
So the Fed's really needing good luck here to help make their transition to tighter monetary policy easier. If you look at the 10-year Treasury, it's around 1.8%. And it would be very hard for the Fed to have a lot of rate hikes. I think five rate hikes will be too much for the market to bear.
WATCH THE FULL INTERVIEW BELOW