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Is There a Chance of a Soft Landing?
If a hard landing is we're going to have a recession in order to get 2% inflation, I actually think there's a pretty good chance. If you just look at the last six months of 2022, on an annualized rate, they were the inflation there is already a 3%. And so I'm looking at that and thinking 3% is basically already there. So am I too optimistic here? I would say you're correct to be more optimistic based on recent data.