The US Federal Reserve has been relentlessly jawboning the market with talk of monetary tightening to tame inflation. "We've had the Fed pound on us for a couple of months," says DICK BOVE, chief financial strategist at ODEON CAPITAL GROUP, in this episode, explaining the latest phase in this bear market (with occasional rallies). "We've had a general consensus in the marketplace that we could have a recession with the first big rise in interest rates." With inflation in the crosshairs of the Fed and US consumers, BOVE, addresses the present trajectory of inflation with the sharp decline in the money supply, price declines in some sectors, and a build up in inventories at retail giants.

The CONVERSATION turns to the tragedy of the war in Ukraine, and the rise of the military industrial complex. BOVE looks at the history books for a better understanding of the brutal invasion of the Ukraine by Russia, is skeptical of media coverage on the progress of the war and on who is "winning." MAT VAN ALSTYNE, co-founder and managing partner at ODEON, says if Russia were truly winning, it would not have retreated from Ukraine. "I think what is happening is that Russia is not losing," he says in this episode. Also, the BOVE presents his outlook on a roster of regional bank stocks. Joining the CONVERSATION is journalist, JOHN AIDAN BYRNE