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Not All Recessions Are Created Equal

July 25, 2022
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Not All Recessions Are Created Equal

Investors are currently grappling with the question of whether the recent rise in interest rates will lead to an economic
slowdown (soft landing) or an economic recession (hard landing). While the odds of a recession by year-end are
increasing, we believe it will likely be less severe than recent recessions due to the buoyancy provided by prior COVID
stimulus programs as well as the strong labor market.

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