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“While the Fed has done an excellent job in navigating the crisis, the market moves may cause them pause to continue to support certain sectors in the credit markets over the long run”

Richard D. Steinberg, CFA

Chief Market Strategist

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CNBC Fed Survey 2020

Richard Steinberg, CFA, Chief Market Strategist for The Colony Group, participated in the CNBC Fed Survey which represents the opinions of 40 of the nation’s money managers, investment strategists, and professional economists. His comments are below:

The liquidity melt-up in the US markets has been a function of hope and optimism, which appears to be priced in to current levels. The proof will be in the pudding as investors are willing to use 2022 earnings estimates to justify an anticipated V-shape recovery. My playbook would call for a rest in the move with a potential 10% pullback so that the economy has time to catch up to the optimism. While the Fed has done an excellent job in navigating the crisis, the market moves may cause them pause to continue to support certain sectors in the credit markets over the long run.

Download the CNBC Fed Survey 2020: 


Richard D. Steinberg, CFA, Chief Market Strategist & Co-Chair, Colony Group Investment Division

Richard Steinberg is the Chief Market Strategist, Co-Chair of the Investment Division and a Principal of The Colony Group. He brings over 25 years of experience leading seasoned investment teams and developing customized investment strategies for private clients, corporations, foundations, retirement accounts, profit-sharing plans and pension accounts. He also analyzes and explains the markets as well as the ever-changing economic and political landscape for clients and the media.

Richard brings a passion for financial management excellence that is personal, cordial, and customized to his roles serving on Colony’s Executive Team and Investment Committee. His philosophy is simple: be available, be flexible, be dedicated and strive to be the best.

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