Red Hot US Inflation Seen Getting Hotter

The transcript discusses the Federal Reserve's path and inflation expectations, noting that current data may not significantly alter the Fed's course. It highlights the impact of energy prices on inflation and market reactions, with a focus on oil and natural gas. The discussion shifts to US equities, consumer spending risks, and the potential for a recession. The transcript also explores the implications of a European energy crisis, particularly if Russian gas supplies are halted, and concludes with a relative value perspective on US equities compared to European markets.

What sectors or regions are expected to perform well in a recessionary environment according to the text?

What potential consequences are mentioned regarding the stoppage of gas from Russia to Europe?