UBS Chief Economist for the United States, Jonathan Pingle, said Monday that the Fed's economic plan to normalize economic conditions is impossible to achieve.
"We were in the soft landing camp for most of last year, but the path to that unfolding has narrowed considerably with the data coming since September," Pingle told The Australian Financial Review, arguing that the soft landing would need strong employment, lower inflation, and the Fed easing the brakes.
"Trying to have an increase in the unemployment rate and inflation fall and do so painlessly, I think it's impossible," he asserted.