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Fed may hike rate by 0.25% this year: Heritage Capital

Paul Schatz, President, Heritage Capital Llc, believes the Federal Reserve may raise interest rates by a quarter point to one time for the rest of the year.

September 09, 2016 / 22:17 IST
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US equities traded lower on Friday as concerns that the Federal Reserve might raise interest rates this month loomed following a speech made by a fed official, while eyeing falling oil prices."It is the first 1 percent down day since Brexit; the market was looking for an excuse to pullback a little bit and they got it," said Paul Schatz, President, Heritage Capital Llc. "Market reaction is overblown, we were long overdue for a little pullback," he told CNBC-TV18.

Schatz believes the Federal Reserve may raise interest rates by a quarter point to one time for the rest of the year.

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Meanwhile, Nariman Behravesh, Chief Economist, IHS Markit also gave his views on the global market situations.

Below is the transcript of Paul Schatz's interview to CNBC-TV18's Shereen Bhan.