'Everything is about the Fed' -Phil Palumbo, CIO

Reuters Videos
1 年前

STORY: While many on Wall Street believe the economy will avoid a recession, Palumbo disagrees, saying, "It's very difficult for the Fed to have done what [Chair Jerome Powell] has done and continue to tighten without putting us into a challenging situation, as far as the economy is concerned."

And although many say the robust labor market reflects a resilient consumer, Palumbo believes the jobs numbers are "misunderstood."

"Where [the jobs market] is today is normally where it is prior to, or just as you go into a recession. And when a recession actually happens, then the unemployment rate starts to climb."