According to Billionaire investor Ray Dalio if fed hikes rates to 4.5%  then equity market could decline 20%

Ray Dalio is the founder of Bridgewater Associate, which is the world’s largest hedge fund

His comment came after a day when US market fell from a record high with the expectation that fed may continue to raise rates to control consumer prices

In a LinkedIn post Dalio mentioned economy is destined to go down as private sector credit depresses and private spending falls.

Next he said "Right now, the markets are discounting inflation over the next 10 years of 2.6 percent in the US.”

My guesstimate is that it will be around 4.5 percent to 5 percent long term, barring shocks," Dalio wrote.

Next he said , The that the US yield curve will be relatively flat until there is an unacceptable negative effect on the economy.

The Fed has already raised the borrowing costs faster this year than at any time since the 1980s and next week we are expecting 75-basis-point interest rate hike