Page 2 - Calling Inflation News Today

The economy is getting slugged and is on the brink of a downturn, according to JPMorgan Asset Management's David Kelly.

Signs of tanking inflation have been "everywhere," and the Fed is finally starting to acknowledge that, Fundstrat's Tom Lee said.

"They told us they want a weak economy. I think that's a very friendly way of saying you want a recession," Bank of America's Ethan Harris warned.

The Fed's inflation forecasts are a "head-scratcher," and the recession outlook could be worse than what Powell has made it out to be, RBC said.

Markets are deeply concerned about a recession, but Jefferies' chief strategist says the situation isn't as bad as some fear.

The S&P 500 could reach 4,400-4,500 by the end of the year, as easing inflation means discounting hawkish Fed talk, Fundstrat said.

"Almost by definition, once it stops hiking, it's easing. And does that work against everything the Fed is trying to achieve?"

"We don't think we've hit yet the sort of conditions that we would typically see in a genuine trough in the bear market."

Central banks can't let criticism stop them from taking away the punch bowl from markets, Mohamed El-Erian warned.

The inflation shock is over, but expect prices to remain sticky, strategists at Bank of America said.