Don't expect Fed to cut rates soon- CIO

STORY: Schleif says "we've always thought that the market was far over its skis, expecting the Fed to pivot" to cutting rates. She adds "you've got so much strength still going in the economy. If the Fed were to cut now and markets off to the races, that doesn't accomplish what the feds trying to do either, which is bring the economy into better balance."

Schleif says the Fed doesn't want stocks and the economy to rise sharply, potentially boosting inflation and forcing the central bank to raise rates again in short order.