RenMac Off-Script: Recession Preferable To Inflation

The RenMac team discusses Powell’s preference for a recession rather than an inflation policy mistake, the Fed’s preferred PCE measure running much lower than CPI, reading the reaction function of the Fed, the potential for a political pause or a lower rate hike pre-Midterm, a Supreme Court setback for ESG investors, handicapping the 2022 midterms, and why healthcare remains a good defensive play.