stephen parker, the head of jp morgan private bank.e are at the point now where investors have to consider where the economy is going with those higher rates, even thinking about the recessionary outlook. is it also worth asking the question of what kind of recession we might be staring at right now? >> clearly, what we are seeing now and some of the selloff today is strong economic data, higher rates, were good economic news is being viewed as bad for markets, because it could keep the fed up more active than expected. we, and our base case for next year, think we are likely headed for a recession here in the u.s. we think it is likely to be a mild recession, not a deep recession. ultimately, we think a lot of that pain is already priced in, as long as we do get that mild recession outlook. what's important to remember is that typically, equity markets bottom six months to nine months ahead of recession. now is the time you want to start thinking about the outlook for the year ahead. matt: did you hear larry summers with david westin