The Curse of the Strong U.S. Economy
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Yet, right now that strength is a curse more than a blessing. With every sign of strength, it will get harder to rein in persistent and broad-based inflation without the Fed raising rates to levels that make a recession inevitable. And the risk is not linear: The current constellation of macroeconom
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- Yet, right now that strength is a curse more than a blessing. With every sign of strength, it will get harder to rein in persistent and broad-based inflation without the Fed raising rates to levels that make a recession inevitable. And the risk is not linear:
- The current constellation of macroeconomic signals is unique
- strength coexisting with weaknesses
- First, consider the labor market
- Second, while the stock market is in bear market territory (>20% drawdown), a closer look reveals similarly conflicting signals.
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