Top economist David Rosenberg says the US economy is a 'dead man walking' – and warns of a 'hard landing' ahead
"You look at the United States and it seems to me that we're still making this transition from expansion to recession," Rosenberg said.
"I know it sounds extremely controversial to talk about the US going into recession, just because the lagging and coincident indicators are telling you that we're into something brand-spanking new about a no-landing or a soft landing. We're heading into a hard-landing in the second half of the year," he said.CNBC
The veteran economist also hit out at the Federal Reserve too, saying it"cherry picks" a favored inflation measure and could cause considerable harm to the US economy if it continued to raise rates aggressively. Rosenberg doubled down on deflation fears, adding the Fed had already hit its 2% inflation target according to measures other than the Consumer Prices Index.
"They just refuse to believe it because of hubris," he said of the central bank."They'll crush the economy – we haven't seen the full effects of tightening yet," he argued.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
David Rosenberg mocks calls for Fed to hike rates after strong jobs dataTop economist David Rosenberg mocks calls for the Fed to hike interest rates again after job openings surge
Lire la suite »
Boston University President Accuses 2023 Graduates of “Cancel Culture” After They Boo David Zaslav During Commencement'Our students were not picking a fight. They were attempting to implement the cancel culture that has become all too prevalent on university campuses,' he said in an op-ed posted on the university's website on Wednesday.
Lire la suite »
'Good Omens': Watch Aziraphale & Crowley in the Season 2 Opening SequenceWatch Aziraphale and Crowley traverse heaven and hell in the opening title sequence for GoodOmens Season 2:
Lire la suite »
David’s Bridal is laying off some workers sooner than expectedThe wedding-dress company based in Conshohocken announced in April that it would be closing stores and laying off 9,236 people across the country.
Lire la suite »
The next bubble to burst...commercial real estate? - CEO SpotlightClark Briner, CEO, Revere Capital talks to KRLD's David Johnson
Lire la suite »
Tom Brady 'looks a little bored to be honest,' David Beckham jokesDavid Beckham stoked the flames on rumors of Tom Brady's return to the NFL with his latest comment on the photo of the ex-QB and entrepreneur David Grutman.
Lire la suite »