The popping of the U.S. stock market bubble is not yet over

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Bloomberg reported Tuesday that Grantham, the co-founder and long-term investment strategist of GMO, said in a paper that he calculates that the value of the S&P 500 at the end of the year should be around 3,200, representing around a 20% decline from current levels.

The Federal Reserve's rate setting committee begins its two-day meeting on Feb 1. Inflation has started to come down in recent months, and signs the U.S. economy is slowing could lead the Fed to start thinking about its next steps after a slew of rate hikes last year.

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