Bloomberg/Abhishek Vishnoi and Ksenia Galouchko/10-3-2022
“A Fed pivot, or the anticipation of one, can still lead to sharp rallies. Just keep in mind that the light at the end of the tunnel you might see if that happens is actually the freight train of the oncoming earnings recession that the Fed cannot stop.” – Michael Wilson, Morgan Stanley strategist
USAGOLD note: When even good news is bad news, you know you’re in a bear market. This is what stagflation does to businesses – small and large.
