Locked
Wall Street rebuffs soft-landing dream as 92% bet on stagflation
The bearish stance comes even as recent data on employment as well as consumer and producer prices suggest the US central bank may actually succeed in its high-wire mission to ramp up borrowing costs without crashing the business cycle.
By Denitsa Tsekova
(Bloomberg) — On the most optimistic corners of Wall Street, promising inflation data over the past week or so suggest the Federal Reserve may accomplish a soft landing after all.
Yet no such belief prevails among the big money managers, who are betting that an economic downturn riddled with still-hot price pressures will define trading next year.
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