We could be at peak earnings growth, says Strategas' Jason Trennert

• Earnings are strong, but the market may be at 'peak earnings growth', and multiples have not fully reflected higher interest rates.
• The Fed is serious about its 2% inflation target and is likely to implement another rate hike in December.
• Concerns exist regarding 'marginal investments' in highly leveraged private markets, which are not as transparent as public markets.

Jason Trennert discusses current market trends, expressing concern that the market might be at peak earnings growth and that multiples haven't fully adjusted to higher interest rates. He believes the Fed is serious about its 2% inflation target and will likely hike rates again in December. Trennert also highlights potential risks in highly leveraged private markets, despite strong growth in areas like AI.