“There ain’t gonna be no recession,” Pierre Rinfret, an economist who once advised the Nixon administration, confidently declared in December 1969. Better at attracting publicity than forecasting, he admitted his error after the economy began a downturn that very month that would last through November 1970. Not even his ungrammatical double-negative, which might be construed pedantically as a prediction of a recession, could erase that bombastic blunder.
With that in mind, there nevertheless is justification now to go against Wall Street’s consensus forecast that 2023 is certain to bring a recession. The corollary is that the Federal Reserve will reverse course, begin to ease monetary policy, and power a new bull market.
Source: https://www.barrons.com/articles/stock-market-recession-economy-fed-51672447470?siteid=yhoof2&yptr=yahoo
The Bulls’ Worst Recession Fear: There Won’t Be One
“There ain’t gonna be no recession,” Pierre Rinfret, an economist who once advised the Nixon administration, confidently declared in December 1969. Better at attracting publicity than forecasting, he admitted his error after the economy began a downturn that very month that would last through November 1970. Not even his ungrammatical double-negative, which might be construed pedantically as a prediction of a recession, could erase that bombastic blunder.
With that in mind, there nevertheless is justification now to go against Wall Street’s consensus forecast that 2023 is certain to bring a recession. The corollary is that the Federal Reserve will reverse course, begin to ease monetary policy, and power a new bull market.
Source: https://www.barrons.com/articles/stock-market-recession-economy-fed-51672447470?siteid=yhoof2&yptr=yahoo