(CNBC) Famed investor Michael Milken expects the Federal Reserve will move slowly on monetary policy — if history is any guide. In fact, the Milken Institute founder expects the central bank will be sure to tamp out inflation before starting to cut rates so as to avoid a repeat of the 1970s, when inflation ran high in the double digits, Milken said on CNBC’s “Last Call” on Monday. He was speaking from the Hope Global Forum in Atlanta.
Michael Milken says the Fed won’t move too early and risk massive inflation like the 1970s
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