The U.S. Federal Reserve cannot disrupt its cycle of interest rate increases until the nation enters a recession, according to TS Lombard Chief U.S. Economist Steven Blitz. “There is no exit from this until he [Fed Chair Jerome Powell] does create a recession, ’til unemployment goes up, and that is when the Fed rates will stop being hiked,” Blitz told CNBC’s “Squawk Box Europe” on Wednesday. He stressed that the Fed lacks clarity on the ceiling of interest rate increases in the absence of such an economic slowdown. “They have no idea where the top rate is, because they have no idea where inflation settles down ... (full story)