The economy is likely to blow hot and cold for the immediate future, Morgan Stanley’s copresident says, as the economy swings between fears of inflation and fears of contraction.
Last week, Ted Pick, head of institutional securities at investment bank Morgan Stanley, joined bankers and investors from Jamie Dimon to Carl Icahn in warning that chances of a recession are steadily rising, marked by periods of a hot and cold economy.
“There is a fire narrative, and that fire narrative is…
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