Inflation expectations have been trending higher over the past 4 weeks, notes John Leer. He discusses where are we in our economic cycle. He talks about how next week's CPI will be critical for understanding the Fed. He mentions that while the Fed may pause in June, they are more likely to raise rates than lower them in 2023. He then goes over the outlook for the economy amid high inflation. He highlights that U.S. consumer confidence is falling, especially among high-income adults. He suggests that actual and expected pay losses among high-income adults are trending higher, and consumers credit capacity is close to being tapped out. Tune in to find out more about the stock market today.
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