joanne feeney joins us from new jersey. always great to have you with us. risk of recession rising in the u.s., but also, how concerned are you about what is happening in credit suisse? and perhaps for the market at least, is it more positive that central banks might think twice when it comes to continuing to tighten? dr. feeney: good to see you guys. clearly the credit suisse situation is different. the government made a helpful announcement and we will see how that turns out. in the u.s. of this lease should be that the silicon valley bank issue is pretty specific, but what we're seeing now are peers that other banks that also have long-dated assets under balance sheets chart now worth less because of their balance sheets. cynically bank was a key problem. we don't see the counterparty risk we have seen in past financial crises that is why i don't think it is systemic. what we are seeing are the bank's response to concerns about the broader economy and other risks by tightening up banking standards. there's probably makes the tightening of standards more

dow futures went up, and dow and nasdaq went up as well joining me to talk about the markets is joann feeneying a little better i think you also think that the banking crisis has been resolved at least at this point >> well, good morning, becky not entirely resolved, but certainly moving in the right direction as far as investors understand it. that doesn't mean there aren't certain banks out there which still have some balance sheet problems and we'll be watching for that the numbers are encouraging. things are moving in the right direction, and we have pretty substantial underlying service inflation in particular. i think investors should not expect the fed to ease off its rate hikes any time soon at the same time, with inflation moving in the right direction and the fed committed to getting it under control, i think investors are looking beyond the next few meetings to the recognition that eventually rates will be cut, and that becomes a tail wind. it's one of the reasons why i think we've seen the tech stocks rally so much at the beginning of the year. >> let's talk about that the expect

powell's testimony to lawmakers saying rates will likely remain higher for longer joining us now is joanne feeney. how would you like to be jay powell you want to get the yield curve up so you say stuff and the short-end goes up and it effects the opposite way because the landing, whether soft or hard, could be harder than you thought. everything is so count counter counterintuitive people at home are scratching their heads over what we talk about most days. >> joe, you are right. it is a very unusual situation we don't have recessions in history that match the pre-conditions this one has. that is why the fed is in such a suffici such a tough spot. i don't want to be jay powell. you have to look at high inflation now and rates moving higher and likely to stay higher for longer, plus the potential of recession, which means lower earnings growth. that makes investing challenging. we look at our clients and particularly the ones looking to be in retirement and need the cash flow. we have several higher income strategies that mix together fixed income and equities. equities can do a lot that bonds ca