Are We Priced for Stagation?

I just don't see any the fed funds is anywhere near five %. The last time i was near five % was at two thousand and seven. Europe is likely to be in a recession because of this war. China is obviously having a very difficult time right nowand we might not be far behind it. And you throw that r word out there with the negative wealth effect from the stock market going down,. housing that's clearly peaking and going lower, and rates higher. It really does make for a nasty thing.