Morgan Stanley Warns Stock Bulls Deluded by ‘Wishful Thinking’
- Fed funds rate well below inflation weakens odds of a pause
- Bank has doubts that profit forecasts are realistic, too
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The July stock-market rebound has emboldened bulls hoping prices will defy the gravity of the Federal Reserve’s escalating fight against inflation.
Don’t be fooled, though, Morgan Stanley Wealth Management’s Lisa Shalett said: It’s just another false dawn.