The classic trade-off between unemployment and inflation isn’t the same due to the Federal Reserve, in Peter Berezin’s view.
Two reports seem to show a cooling economy, with the Fed backing off.
The portfolio’s market value dropped by more than $2 billion last year to $20.2 billion.
But the institutional investors revamped their approach to the asset class after it failed to protect them when equities tanked in 2022.
No additional rate hikes, one more, two more? Strategists ponder what comes next after the CPI news.
The firm advises lowering exposure to stocks in preparation for a recession finally rolling in.
Former Fed chief puts a number on the level of employment-related pain needed to hit price-rise target.
After a punishing 2022 ended on a slight upswing, allocators posted a 4.1% increase in this year’s first period, per a Northern Trust study.