Bank Earnings Show We're Not Headed for Recession, Baird's Taft Says

The video discusses recent bank earnings from Wells Fargo, JP Morgan, and City, indicating that the economy is not heading into a recession despite slowing growth. The market is struggling to differentiate between slowing growth and a recession, which initially drove banks down. However, recent earnings reports and market recovery suggest that the economic cycle is not ending soon, and banks may perform better than expected. The analysis suggests we are in the middle of a long economic cycle, not nearing its end.

What does the speaker mean by being in the 5th and 6th inning of the economic cycle?

How do the recent bank earnings affect the outlook for banks in the near future?