The Federal Reserve is in risk management mode and is more worried about the possibility it will do too little to quash inflation rather than too much. Meanwhile the economy, and especially the job market, is proving surprisingly resilient. • That tension looks likely to shape markets and the economy in 2023. Why it matters: It creates a meaningful risk of new disruptions to financial markets — and the possibility of a hard economic landing — as the Fed tries to wrestle inflation to a place where it's persistently low. • Fed officials have envisioned raising rates above 5% this year, in contrast to markets that have ... (full story)