Anthony Scaramuccithe founder of SkyBridge Capitalreportedly said he expected the federal reserve to pause its rate hike campaign before inflation hits the 2% target which would lead to a rally in risky assets.

“I think the Fed will declare victory at 4% to 5% inflation,” Scaramucci said told Bloomberg. “If I’m right, the market will pick up again. There will be a lot of short-covering in crypto and there will be a rebirth of risky assets,” he said.

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Investors and traders are awaiting GDP figures released Thursday, which will signal just how strong the economy was late last year. At the same time, economists are expecting a 5% annual rise in the personal consumption price index, due to be released on Friday, and a 4.4% rise in the core metric excluding food and energy. according to to Bloomberg. While the estimate supports smaller rate hikes, it is not considered sufficient for the central bank to pause its rate hike campaign, the report said.

Bitcoin Exposure: SkyBridge has almost 10% exposure to Bitcoin BTC/USD in which SkyBridge Multi-Adviser Hedge Fund Portfolios Series G Funds, based on monthly estimates, the report said, citing a spokesman. Scaramucci stated he doesn’t expect to increase his Bitcoin stake in the fund, but may “scale into other things as Bitcoin goes up.”

The report noted that SkyBridge had accepted $45 million in funding Sam Bankman Fried before the collapse of FTX. Of that cash inflow, Scaramucci said SkyBridge bought $10 million FTX‘s token (CRYPTO: FTT) which it sold at a loss of $9.6 million, according to the report.

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