Growth Has Slowed

Could the market be overestimating the chances of a soft landing?

Summary: The economy is resilient but growth appears to have slowed a lot. Total card spending at Bank of America grew only 0.3% y/y in March. Inflation is still sticky though, so the Fed may not be able to lower interest rates as much as hoped. The geopolitical situation is not making things any better. Could the market be overestimating the chances of…