Morgan Stanley: Biden's Red Hot Government Spending And Fiscal Stimulus Ends When The Reverse Repo Runs Out

By Michael Wilson, Morgan Stanley's chief US equity strategist

Crowding Out Drives Narrowness

Four years ago, I wrote a Sunday Start, The Other 1 Percenters, in which I discussed the ever-growing divide between the haves and have-nots. This divide was not limited to consumers but included corporates as well.