Knapp: Economy is ‘Not so Solid’ as Fed is Claiming

“Not so solid” – Barry Knapp doesn’t believe the Fed’s assertion that the economy is holding up, citing today’s PCE data among other factors. Outside of names driven by the AI boom, he says earnings are actually projected to fall in 2Q. He talks about what positive catalysts the market could see and gives his targets for the end of the year. Overall, he thinks the Fed has got it wrong, just as he argues that they got it wrong during the pandemic.

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