The macroeconomic outlook continues to dominate the executive agenda. Last year, when demand overshot and supply chains sputtered, many firms discovered pricing power they never experienced before.
But the Fed’s battle against resulting inflation has pushed up the risk of recession. Today, macroeconomic fears are rotating out of inflation and towards another downturn. While the idea that a recession would put out the fire of inflation is persuasive, it is not guaranteed.
As we wrote here in March, monetary policy makers pose the greatest risk of a U.S. recession. In…
