Rosenberg: One Fed Hike Not the Mistake, But Five Would Be

Economist David Rosenberg warns that the real risk is not the expected single quarter-point Fed rate hike but the four or five additional increases markets have begun pricing in. The U.S. 10-year Treasury yield has topped 5% for the first time since before the 2008 crisis. He views recent inflation data as unreliable, citing mismatches in hotel, telecom and used-car figures against industry sources that suggest core inflation was nearly flat.