The continuation of the Fed's aggressive campaign to raise interest rates likely means that a "hard landing" outcome — in which the economy tumbles into a recession — will follow in the latter part of 2023, he said.
The gloomy forecast comes after a brutal year for the stock market, its worst since the 2008 financial crisis. All three indexes tumbled in 2022, snapping a three-year win streak. The Dow Jones Industrial Average ended the year down 8.8%, the best of the three. The S&P 500 sank 19.4%, while the tech-heavy Nasdaq composite plunged 33.1%.
Stocks initially rallied in early 2023, although equities have lost some of that momentum amid rate-hike fears. The S&P closed Friday up about 6.67% from the start of the year, but down about 0.83% for the week.to raise interest rates eight consecutive times to a range of 4.5% to 4.75%, and signaled last month that a "couple more" increases are on the table this year.
The day Biden was installed the government started hemorrhaging trillions that purchased nothing. It makes sense that the economy will suffer some time, i.e. 'no landing' makes 'no sense'. cvpayne lizpeek dagenmcdowell lizclam
YaSerge8 BoDjimou
Biden will keep everything going with printing more trillions.
Duh. All I have been thinking about after those revised numbers for inflation last week...
2/16/23: 🇺🇸 $ De-DOLLARIZATION is ACCELERATING: Here's what to Expect — Andy Schectman Update
It's so strange how the public either doesn't care or isn't educated enough to care.
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