Fed to Trigger ‘Collateral Financial Damage’: Lavorgnia

Joe Lavorgnia, chief economist at Deutsche Bank, criticized the Fed’s strategy and sees broad “collateral financial damage” once interest rates eventually edge higher.

“They have the pedal pressed so far down, I just think it’s going to end so badly,” said Lavorgnia on CNBC’s “Squawk on the Street” on Friday. He was commenting on the Fed’s strategy of near-zero interest rates.