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Billionaire Ray Dalio: We are in the 7th inning of the current economic cycle
Ray Dalio, the billionaire founder of the world's biggest hedge fund, told CNBC on Tuesday the current economic cycle is in the 7th inning, predicting it has about 2 years left to run. To help keep the economy and stocks moving forward, the Federal Reserve should not increase interest rates faster than the market expects, said Dalio, co-chairman and co-chief investment officer of Bridgewater Associates. Appearing on "Squawk Box" during the 10th anniversary week of the 2008 financial crisis, Dalio said the next crisis won't be a big bang-type affair but one that leads to more severe social and political problems. ... (full story)