Ignore the Fed's warning that interest rates may stay higher for longer, David Rosenberg said. The Fed misjudged the dot-com and housing bubbles as well as the inflation spike last year, he said. However, investors should ignore his messaging given the central bank's long history of getting things wrong, David Rosenberg says. Rosenberg was highlighting that, only two years ago, the Fed expected its benchmark interest rate to be under 1% at the end of 2023. The veteran economist has repeatedly sounded the alarm on the delayed impact of raising interest rates.

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Persons: David Rosenberg, Jerome Powell, Rosenberg, Powell, Merrill Lynch, Ooops, Lucy, where's Organizations: Fed, Service, Rosenberg Research, North Locations: Wall, Silicon, North American