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We're Still Dancing Around to Macro Matters From the Fed

·1 min read
We're Still Dancing Around to Macro Matters From the Fed

Jerome Powell continues to cultivate an optimistic tone about the ability of the Fed to deal with inflation, but he is increasingly clear that there is a high risk of a recession. Much of the market is already anticipating slowing growth, which is why Powell's comments about a possible recession are not generating a negative response. There is some good action in high PE technology names like Snowflake , Upstart Holdings , CrowdStrike , Shopify , and others, but these are stocks that still have badly broken charts and need further work before they are technically healthy.