Fmr Treasury Official: Higher Rates Will Hurt Markets
Most people know Steven Rattner as the "Car Czar" for the US Treasury Department who helped engineer the turnaround in the US auto market during the financial crisis. But, he also used to manage over $6 billion in assets when he was with the Quandrangle Group. So, he knows a thing or tow about making money.
Rattner is currently Chairman of Willett Advisors and is a CNBC contributor. He talks numbers with Talking Numbers about the tug-of-war between the Fed and the bond markets, and how higher rates are now a detriment to stocks.
Stay tuned for our second interview with former "Car Czar" Steven Rattner where he discusses the auto industry.