Tom Lee Predicts Future Inflation Will Decline, Says Crypto Bull Market and Stock Market New Highs Reflect Loose Financial Conditions

In an interview with CNBC, Tom Lee stated that the market expected the Federal Reserve to raise interest rates three times before last week's employment report, with a 75% probability of a rate hike in October. However, the employment report was weaker than expected, and the September inflation report is anticipated to be released in two weeks. He believes that some one-time factors are fading, and inflation data will be soft over the next six months, which will prompt the Federal Reserve to ease its hawkish stance and normalize bond yields. Lee pointed out that the tech stocks hitting new highs and the strong performance of cryptocurrencies would not be possible in a tightening monetary condition, indicating that the market is preemptively reflecting future looser financial conditions.

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