Fed Will Be Compelled to Tighten One Last Time, Says Mizuho’s Chatwell

The transcript discusses the Federal Open Market Committee's (FOMC) dovish stance in March, highlighting a pause in rate hikes. It examines the economic rebound post-shutdown, improved financial conditions, and the potential for the Fed to tighten once more due to strong data. The discussion includes interest rate expectations, market reactions, and the possibility of a recession in 2020 due to corporate deleveraging and the end of the hiking cycle.

What is the significance of the Phillips curve in the context of the Federal Reserve's actions?

What are the two main factors that the speaker believes will influence the market towards a recession in 2020?