Big tech keeps surprising on the upside despite heightened expectations, while the Fed is moving closer to a tapering of QT. This makes for a benign scenario for the business cycle despite a lack of imminent rate cuts.
![Something for your Espresso: The party is still ongoing!](https://stenoresearch.com/wp-content/uploads/2023/01/Something-for-your-espresso-1080x675.png)
Big tech keeps surprising on the upside despite heightened expectations, while the Fed is moving closer to a tapering of QT. This makes for a benign scenario for the business cycle despite a lack of imminent rate cuts.