'None and done' is what we'll see from Fed this year, says Ed Yardeni

• Fed is expected to keep rates steady ('done and done') for the remainder of the year.
• The economy is remarkably resilient and is expected to 'weather the storm' of current challenges, avoiding a recession.
• A 'twin peak inflation situation' is anticipated, but consumer and capital spending resilience will be key.
• Earnings expectations, particularly in the technology sector, continue to rise despite market volatility.
• The 'Magnificent 7' stocks are seeing a drawdown driven by an 'AI arms race' and increased competition, rather than direct geopolitical impact.

Ed Yardeni believes the Fed is 'done and done' with rate changes this year, and the economy, despite being 'stress tested' by rising oil prices and geopolitical events, will likely avoid a recession due to consumer resilience and rising earnings expectations. He advises investors to 'stay put' rather than panic, noting that the 'Magnificent 7' stocks are experiencing a drawdown due to an 'AI arms race' and increased competition, not necessarily the war.