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a two-year high, wage growth starting to out pace inflation, at least month to month, but recession fears still linger. that was one of the headlines. and as you point out, it s sort of a hedge comment, like we think we re out of the woods, but maybe not. what s going well, what s still worrying people? well, the economy, for the first time in my experience, i haven t seen an economy this split, where you have certain sectors in recession, manufacturing portions of the residential real estate sector are in recession. the consumer is doing well. manufacturing and technology are doing well. you can t make a uniform statement about exactly where we are. the economy is growing a little bit north of 2%. inflation in my estimation is coming down much faster than fed chair powell would admit, and so i think this is overkill on the rate increase side. but the economy is okay. i wrote a couple of weeks ago, we re as close to a goldilocks environment as we might see for the foreseeable future,

Out of the woodsPace inflationHedge commentHaven tReal estateRate increase sideChair powellGoldilocks environment