Without a U.S. recession, the Federal Reserve will be forced to raise rates higher than anticipated, bringing back all the bad parts of 2022 for investors, warned TS Lombard strategists.
While a consensus forecast of 5% for the fed-funds rate by the end of 2023 has emerged, TS Lombard researchers think a recession that forced the Fed to cut its benchmark rate to around 3%, appears more likely.
“The…
