Bridgewater is "bearish on equities broadly, including the United States, including Europe," - Rebecca Patterson

Since the beginning, we said that that would be a terrible idea. It's such a beautiful place and we need to keep what we have,

Bridgewater's institutional investors are bracing for a prolonged stagflationary period — an economic condition marked by slowing growth and high inflation — and are looking to protect their portfolios in the event of "sustained bear markets."

it is premature to presume that Mr. Powell will pivot into a dovish stance, given commodities and housing have seen some cooling. "The Fed's in a really unenviable place, if they tighten too much, they risk exacerbating the recession," she said. "If they don't tighten enough, they're not going to get inflation where they want it and they could risk their credibility."