The Immaculate Disinflation Scenario

The Fed is trying to thread a needle with still high inflation. Earnings expectations are still relatively high from the analyst side. But at the same time, if you look at say 1995, that's kind of what happened, right? The Fed ripped rates higher. People got nervous. A couple of things broke and then somehow we skated through. I think it's much more difficult now because debt is just so much higher everywhere. It's like Sully Sullenberger trying to land a plane on the Hudson River or whatever. Is it possible? Sure. But nobody's positioned for it.