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Biden Meets with Powell as Inflation Battle Heats Up

The Breakdown

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Is There a Possible Recession in Equity Markets?

The key fundamental call we are focused on now is slow in growth and our view that earnings estimates are too high. Morgan stanley strategist michael wilson doesn't really buy it. The primary rational ascribed to this particular rally, beyond just an oversold boundse is that the fed may be contemplating a pause in september. But inflation remains too high for the fed's liking. And so whatever pivot investors might be hoping for illbe too immaterial to change the down trend in equity prices.

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