Commentary
Recession odds have climbed considerably since Jerome Powell’s testimony before Congress and the latest FOMC meeting. However, the recent failures of Silicon Valley Bank (SVB) and Credit Suisse (CS), as higher rates impact regional bank liquidity, also added to the risks.
This isn’t the first time we have warned the aggressive rate hiking campaign would either cause a recession or “break something.”
• A “Soft Landing” Scenario – Possibility Or Fed Myth
• “No Landing” Scenario At Odds With Fed’s Goals
• The Lag Effect Of The Fiscal Pig & The Economic Python
• The “Policy Pivot” May Not Be Bullish
• This Time Is Different – The Fed’s Next “Minsky Moment”…