The Worst of Both Worlds
Earlier this week, TD Ameritrade's lead anchor, Oliver Renick, suggested that we were likely heading for a worst-case scenario: a recession with inflation still hot enough that the Fed would be compelled to continue to raise rates during it:
Two of the nation's largest banks, JPMorgan Chase & Co (NYSE: JPM) and Morgan Stanley (NYSE: MS), reported quarterly earnings Thursday that failed to meet analyst expectations, and more seriously, profits were dow