The Fed is not going to pivot anytime soon because if the Fed pivots to dovish with inflation at 8%, it will push up inflation even more. The FOMC wants to lower inflation from 8% to 2%, and it has to happen through a tightening of financial conditions via higher rates, wider credit spreads, and lower equities. Our latest credit market outlook is attached.
![](https://apolloacademy.com/wp-content/uploads/2022/10/100522-Cover-1-1024x791.jpg)
It should not be assumed that investments made in the future will be profitable or will equal the performance of the investments shown in this document.