The U.S. real estate market could be headed towards a"dire" situation, TJM Institutional Services managing director James Iuorio said on"Mornings with Maria" Tuesday, August 22, 2023.
Fed Chair Jerome Powell has yet to be tested, according to Iuorio, calling out the central bank for having a little too much "confidence." "There's never been a really material pullback in the stock market that would make him wonder if he's doing the right thing. So I think that that's a big risk to the market," the market analyst said. "I do think we're in a corrective phase, and I think that plays right into it."
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