Key Words: Billionaire investor Dalio: Fed rate hikes ‘hurting asset prices’

‘We’ve raised interest rates to a level that it’s hurting asset prices.’

Ray Dalio, Bridgewater Associates

Dalio, the founder of Bridgewater Associates, the world’s largest hedge fund, made those remarks in an interview with CNBC Thursday morning.

“We’re in a situation right now that the Fed will have to look at asset prices before they look at economic activity,” he said. “It’s a difficult position.”

Through Wednesday, the S&P 500 SPX, +1.06% was down 7.3% since the end of the third quarter, leaving it with a 1.1% year-to-date gain. The Dow Jones Industrial Average DJIA, +0.83%DJIA, +0.83% was off 5.2% in the quarter to date.

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