JPM's Michele Advises Investors to Sell Government Bonds

The video discusses the confusion in the market regarding bonds and credit, highlighting the repricing and flattening of the yield curve. Concerns about the Fed's actions potentially leading to a recession are addressed, with a suggestion to sell government bonds and invest in credit markets. The speaker emphasizes the need for central banks to step back and allow market participants to determine pricing, contrasting past and present roles of central banks in the economy.

What does the speaker mean by the term 'normal' in the context of financial markets?

What is the speaker's perspective on the current state of the economy?