The "golden era" of investing is over. It ended with aggressive interest rate hikes by the Federal Reserve, according to Ralph Schlossstein, chairman of Evercore ISI. "The last 40 years have been golden for investors, he said, with rates mostly falling. In the coming decades it will become more difficult to profit from stocks, he believes, which will force traders on Wall Street to reconsider the contents of their portfolios. The expert's opinion is quoted by Bloomberg agency. When the Fed cut rates amid the past global crisis, there was a favorable period for investors, in which money was cheap. However, the situation changed in March 2022, when the regulator moved to tighten monetary policy as part of the fight against inflation, Schlossstein said. He doesn't expect rates to fall in the near future. In his view, they will remain at high levels for a long time to come, helped by the resilience of the U.S. economy.