Economy Shows Signs of Strength, Recession Risks Appear Overblown - What It Could Mean for Investors

The economy is growing strongly based on GDP data, suggesting no recession is imminent according to JPMorgan's Phil Camporeale.

The labor market remains robust, with low unemployment and many job openings, which doesn't signal an impending recession.

Inflation is moderating, giving the Fed room to be less aggressive with rate hikes going forward.

If no recession materializes as expected, investors should buy high-yield bonds which offer attractive 9% yields.

The Fed is likely to keep rates higher for longer, but could get even more aggressive if inflation re-accelerates.