Experts Predict Extended Fed Hold and Impending Recession

KBW CEO Thomas Michaud warns that the economy has not fully absorbed higher interest rates yet, and the bite of these higher rates is gaining traction almost every day. He expects one rate hike to happen in July, but questions whether policymakers will raise rates a second time. Michaud lists interest rate sensitive areas of the economy already in a recession and sees the problems contributing to more pain in regional banks. He sees a shift from adjusting to the new interest rate environment to credit quality in the second half of this year.