Fed Rate Cuts Unlikely as Economy Defies Soft Landing Predictions
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Stock market has priced in a "soft landing" for economy, but strong jobs data and corporate earnings point to risk of resilient economy with sticky inflation ("no landing" scenario)
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"No landing" could mean Fed hesitates to cut rates much even if economy stays strong, which could spell trouble if inflation reaccelerates
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Chance of Fed rate cut in March now seen as very unlikely given hawkish Fed comments and blowout January jobs report
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While big tech earnings were decent, guidance has been weak; regional banks face headwinds with end of Fed liquidity program
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Investors may want to go risk-off before May when Fed could start cutting rates; healthcare, utilities, staples and energy stocks may be safer bets