Investors and other market watchers have been keeping a close eye on what the U.S. Federal Reserve and other central banks are doing. The key questions are if or when they will pause their interest rate hikes, what it will take for them to pivot, and when they will start cutting rates.
However, central banks may have far less control over what's going to happen — including whether a recession occurs and if so, how severe it will be.
At the ALFI European Asset Management Conference in Luxembourg last week, managing director and global chief investment strategist Wei Li of BlackRock laid out the strategies they're currently using at the firm. She warned that central bank tools won't work as well as...
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