Whatever the Fed is doing has not been working, says Verdence's Megan Horneman

• The market is too optimistic about the Fed's future actions; the Fed remains hawkish and inflation is still too high.
• Earnings growth expectations for this year and next are very high and at risk, especially for tech stocks.
• Long-term bonds are a big risk, with 10-year and 30-year Treasury yields at multi-year highs.

Megan Horneman of Verdence Capital Advisors expresses a cautious outlook on the markets, believing investors are too optimistic about the Fed's actions and inflation. She highlights risks from a hawkish Fed, high earnings expectations, and potential issues in the bond market, suggesting that current market conditions are unsustainable.