Though the investment bank's Michael Wilson cautioned that no one yet knows what type of event it could be this time, he believes the rate hikes will inevitably cause an"oncoming earnings recession" for corporations in the next few months that could see the S&P 500 plunge another 15% .
As experts weigh whether the nation may plunge into a recession, here's how the economy's main pillars are holding up:The housing market continues to be one of the sectors hardest hit by the Fed's rate hikes. Mortgage applications plummeted to their lowest level since 1997, according to dataWednesday by the Mortgage Bankers Association.
there were a better-than-expected 208,000 new private-sector jobs added last month, dashing hopes that the Fed may pivot from its aggressive stance. After this week's losses, the S&P is just 1.5% shy of hitting a nearly two-year low.The Fed is deep into its most aggressive economic tightening campaign since the late 1980s, and it's still expected to raise rates by another 125 basis points this year. However, that’s largely contingent on incoming economic data.
Feds between a rock and a hard place. I hold.
_Kriesz_ keep it up to trigger the bottom 🤭
October 24th 2022 The collapse. It’s over
C’mon man the rate hikes didn’t happen over night 🤡
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