“The Fed is not really giving enough credence to the idea that tighter credit means things weaken in a fairly quick manner,” the firm’s head of macro strategy told CNBC’s “Fast Money” on Wednesday.
He estimates it will take a month or two to get clarity on credit conditions.
“It’s hard to say right now whether the Fed has tightened enough or too much,” said Schumacher. “That’s why the market has been bouncing around so much —whether it’s the equity market or the bond market. People are trying to get a read on this.”