Templeton’s star bond manager Michael Hasenstab says the Federal Reserve will raise rates again in 2019.: Don’t count on Jerome Powell staying on hold this year — at some point, the Federal Reserve will hike rates again and hammer a Treasurys market unprepared for further monetary tightening. That’s from Michael Hasenstab, manager of Franklin Templeton’s $34 billion Global Bond Fund, who said that the U.S. economy’s resilience should shake off fears over a looming downturn, giving the central bank room to hike rates again in 2019.