With price pressures declining for six consecutive months, inflation seems to have already peaked. Morgan Stanley (MS) CEO James Gorman said, "Clearly, inflation peaked. That's no longer a question; it's a fact." The cooling inflation should prompt the Fed to go for slower rate hikes.
Moreover, many experts now believe the U.S. can achieve a 'soft landing.' Given the tight labor market, White House economist Heather Boushey is optimistic about the country avoiding a recession altogether.
