JPM's Michele Sees US Recession, Fed Cut by Year End

The video discusses the Federal Reserve's approach to managing inflation and disinflation, highlighting the potential for a recession before rate cuts occur. It compares the Fed's strategy to the European Central Bank's approach, emphasizing the prioritization of inflation control over economic growth. The discussion also covers the implications of a flat yield curve and the Fed's communication strategy, which aims to maintain higher rates until inflation targets are met.

What is the speaker's outlook on the yield curve and its implications for the economy?

In what way does the speaker compare the current economic situation to the European Central Bank's approach?