Morgan Stanley: Weekly Warm-up: Fed Hits Stocks but the Larger Risk Remains Earnings, Not Rates
Chair Powell and the Fed make it crystal clear that their job fighting inflation remains unfinished. Ironically, while bonds took the message in stride, stocks seemed to be shocked by the messaging. The path for stocks from here will be determined by earnings, where we still see material downside. Unfinished business for theFed…While the Fed’s…...
