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We are not forecasting a deep and long recession, but let's not be too optimistic. This year has been historically difficult. Central banks need to be careful. There is room for the Fed to step down according to the bond market. It suggests the Fed will win the battle against inflation. Bloomberg Surveillance with Tom Keene, Jonathan Ferro, and Lisa Abramowicz discuss the current economic climate. It's a different season with the holidays approaching, and despite a tumultuous year, there have been significant announcements.