Ray Dalio wrote Tuesday on LinkedIn it’s “naive and inconsistent with how the economic machine works” to think the Federal Reserve raising interest rates “will make things good again once it gets inflation under control.” While tightening leads to less consumer spending, which may reduce inflation, it doesn’t make things better, the billionaire founder of Bridgewater Associates LP said. “It just shifts some of the squeezing of people via inflation to squeezing them via giving them less buying power,” Dalio added. “There isn’t anything that the Fed can do to fight inflation without creating economic weakness,” Dalio ... (full story)