This latest segment of the PBS WeatlhTrack program addresses the topics that have been most important during the past few months -- the Fed and Recession and how these are impacting the Markets. Hope everyone enjoyed the beautiful weekend.
| ||||
| ||||
FED POLICY, RECESSION PROSPECTS & THE MARKETS
August 11, 2022
Dear WEALTHTRACK Subscriber,
New on the website this week, we have a special WEALTHTRACK podcast with influential economist and Fed watcher turned professor, Paul McCulley on Fed policy, recession prospects and the markets.
McCulley is an adjunct professor at Georgetown Business School and a very much in demand speaker in financial circles because of his deep understanding of Fed policy, honed at bond giant PIMCO, where for many years he was Senior Partner, author of the influential Global Central Bank Focus and manager of its huge short-term trading desk. In this week’s podcast, McCulley shares his thoughts on where we are in the Fed’s tightening cycle, economy and markets.
This week Public Television is launching its summer fund-raising drive, so we are revisiting a popular recent show with a guest whose outspoken and meticulously researched opinions frequently challenge the prevailing wisdom on Wall Street and is doing so today.
We’ll hear from David Rosenberg, President, Chief Economist and Strategist at his independent economic consulting firm Rosenberg Research which he founded in January 2020.
For the decade before that Rosenberg was Chief Economist and Strategist at Canadian asset management firm Gluskin Sheff and prior to that he made his reputation as Chief North American Economist at Bank America Merrill Lynch where he was consistently ranked an all-star analyst by institutional investors. His daily Breakfast with Dave newsletter has long been considered a must read by retail and institutional investors alike.
Which prevailing views is Rosenberg challenging now?
High inflation is at the top of the Federal Reserve’s, Washington's and Wall Street’s list. Rosenberg says they are looking at the wrong numbers and that disinflation is already taking hold.
Interest rates are still expected to go higher. Rosenberg cites evidence of economic slowing which will require easing sooner than expected.
The likelihood of recession is still being debated. Rosenberg is forecasting a recession this year.
What about the recent revival in the stock market? Rosenberg warns about the lure of bear market rallies.
If you miss the program on public television, the show is always available on our website. The WEALTHTRACK podcast is available on Stitcher and SoundCloud as well as iTunes and Spotify.
Please also explore our YouTube channel, where you can watch this show along with Dave Rosenberg’s previous interviews. You’ll find our extensive archive of interviews with financial thought leaders and great investors there as well.
Have a great summer weekend and make the week ahead a healthy, profitable and productive one!
Best regards,
Consuelo
No comments:
Post a Comment