A ‘wet blanket’ for stocks: The ETF strategy boss at $19.5 billion Allianz explains why the Fed is on course to shock markets by raising rates higher and for longer than expected

• The Federal Reserve will keep putting pressure on stocks, according to Johan Granz of Allianz.
• Granz, the $19.5B firm’s head of ETF strategy, says investors are ignoring the Fed’s plain talk. 
• He says rates will top 5% at minimum, and doesn’t think the Fed will lower rates in 2023.

Market experts and pundits alike have been telling investors “Don’t fight the Fed” for more than 50 years now. The reason they’re still saying it is that a lot of people don’t listen.