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The biggest risk to markets is a hawkish Federal Reserve that just kicked off a new tightening cycle with an interest rate hike, JPMorgan said.

Stocks have risen sharply over the last year, helping the Dow Jones finally break the 36,000 barrier. Xinhua News Agency/Getty Images One of Wall

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

Please verify your request* Advertisement While Fed chief Powell has repeatedly downplayed the risk, some economists and policymakers are worried that the U.S. economy could stumble into a 1970s-style inflationary spiral produced by the flood of relief and stimulus spending authorized by Congress in the last year and the additional spending being proposed by Biden. Former Obama economic adviser Larry Summers is one of the leading critics expressing concerns. “It may be that a way wi...