Tom welcomes back Julian Brigden, co-founder of Macro Intelligence 2 Partners, about the current economic condition referred to as 'macro purgatory.' Brigden warns of an impending recession following a tightening cycle, with only an 8-10% chance of a soft landing.
He underlines the significance of employment data, specifically unemployment rates, which can precede a recession and could result in significant rises, potentially causing bond markets to rally while equities weaken.
The Fed's failure to meet its stated goals complicates matters as Treasury and Janet Yellen have counteracted their efforts.