Credit Spreads Too Expensive, JPMorgan's Michele Says

The transcript discusses the current state of credit spreads, predicting they will rise due to recession risks. It highlights the economic slowdown, suggesting a potential re-acceleration in consumption and housing due to low unemployment. The discussion also covers the Federal Reserve's aggressive stance and the market's response to upcoming quantitative tightening.

What is the speaker's view on the current state of credit spreads?

• They are adequately priced.

• They are too expensive.

• They are too cheap.

• They are irrelevant to recession risk.

According to the speaker, what is expected to happen to credit spreads by the end of the year?

• They will decrease significantly.

• They will rise to previous highs.

• They will remain stable.

• They will become irrelevant.

What does the speaker believe about the current economic slowdown?

• It is irrelevant to the market.

• It is an unprecedented crisis.

• It is a temporary pause.

• It is a permanent decline.

What factor does the speaker think will force the Fed to become more aggressive?

• Low unemployment rates.

• Decreasing consumption.

• Stable housing market.

• High unemployment rates.

What is the speaker's concern regarding the market's ability to handle quantitative tightening?

• The market will benefit from the Fed's actions.

• The market will ignore the Fed's actions.

• The market is not prepared for the influx of bonds.

• The market will easily absorb the bonds.