As we entered 2023, the consensus view of market participants and top of mind for many investors, was the widely anticipated U.S. recession. Given the unprecedented scale and pace of the Federal Reserve’s (the Fed) rate increases that began in March 2022 — from the near-zero levels that had persisted since COVID-19 — very few saw a runway for a “soft landing.”
It is worth noting that in any given year, the independent probability of the U.S. entering a recession is 15%, roughly 1 out…
