Hey Guys,
Last week we the US released its second quarter GDP numbers. These came in at a 0.9% contraction.
Given that this is the second consecutive quarter of negative growth, it entered what many believe is a technical recession.
However, an official recession was not declared and that's because of the choice of a panel of 8 economists within the NBER. The “R” question also turned into a massive political football as both sides of the argument tried to score points.
But whether a recession is officially declared is of lesser importance compared to what this growth means for the US economy. This comes at a time when inflation is running super-hot and the Fed is on a crusade to bring it down.
There is also the question as to when this slowdown in growth will start to permeate into the job market? Will the unemployment stats remain low, or could the Fed's policies impact it as well?
That's all explored in my video today!
I take a look at why this recession is unlike any other and what it could mean for Fed policy come September. I also give you my take on the broader market impact it could have.
Enjoy!
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⛓️ 🔗 Useful Links 🔗 ⛓️
Kathie Wood Interview: https://www.youtube.com/watch?v=_WbFF…
Larry Summers Interview: https://www.youtube.com/watch?v=P6reu…
WSJ Article: https://www.wsj.com/articles/if-this-…
Yield Curve Inversion: https://www.bloomberg.com/news/articl…
Consumer Spending Strong: https://www.reuters.com/markets/us/us…
NYTimes Recession: https://www.nytimes.com/2022/07/26/bu…
Yellen Says No Recession: https://www.bloomberg.com/news/articl…
Job Growth: https://www.reuters.com/markets/us/us…
Powell Statements: https://apnews.com/article/inflation-…
Tech Upheavel: https://www.wsj.com/articles/from-app…
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📜 Disclaimer 📜
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome.
