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Economic Outlook
- The US economy shows surprising resilience, but inflation, recession, and the Fed's path remain concerns.
- David Mericle explains his optimism for a soft landing, citing labor market rebalancing.
Labor Market Rebalancing
- Labor market rebalancing is key to avoiding recession.
- A decline in job openings, not increased unemployment, signals positive progress.
Inflation Outlook
- Despite high core inflation, the Fed paused rate hikes in June.
- Mericle believes the inflation outlook has improved due to several factors.