Economic pain is likely in 2024, but that doesn’t mean stocks will struggle all year, especially if there is a continuation of the rolling recessions that have hit the economy. "Don't fight the Fed" is a decades-old mantra. "Higher for longer" is a newer reference to Federal Reserve policy amid what has been the most aggressive monetary policy tightening cycle in more than 40 years. As we approach 2024, there has been no diminution in the recession vs. soft landing debates thanks to a cycle filled with cross-currents in terms of economic data and inflation. A key characteristic of 2023—one we feel will persist into ... (full story)