Earnings Expectations 'Out of Whack': BofA's Subramanian

The transcript discusses the current market conditions, focusing on the potential for lower market levels before a recovery. It highlights the disparity between earnings growth expectations and economic forecasts of a recession. The discussion also covers the equity risk premium in the context of rising interest rates and inflation. The challenges faced by companies, such as wage inflation and weakening demand, are examined, along with the impact of globalization. The overall market outlook suggests a harder landing scenario, with significant risks to earnings.

Analyze the risks associated with the current economic environment as discussed in the text.

What factors contribute to the expectation of a hard landing scenario in the market?