Kolanovic Stays Bearish. Recession Likely Needed To Tame Inflation

It'll probably take a recession to restore price stability. That's according to JPMorgan analysts led by Marko Kolanovic who, in a Monday afternoon note, suggested that "most" of the economic drag from last year's Fed tightening still lies ahead. The US economy, and particularly the labor market, has so far managed to shrug off 500bps of rate hikes from Jerome Powell. Indeed, even rate-sensitive housing appears to be on the mend. But according to Kolanovic, recession is merely delayed, not ave