Toronto, Ontario Jul 26, 2023 (Issuewire.com) - The former chief North American economist at Merrill Lynch and now president of Toronto-based Rosenberg Research is predicting that the recession will be increased and the economic system is going to be affected severely. America is going to face it at first and it will also experience a high rate of unemployment. For that reason, everyone is suggesting cutting off some amount from spending and decreasing the amount of consumption. The United States is going to experience a recession in its economy, which is going to affect the whole country.
In this scenario, David Rosenberg has stated ‘Recessions are like an odorless gas. They sneak up on you’. Rosenberg has also said ‘There is no chance we’re having a soft landing in the context of the most pernicious tightening by the Fed since the Paul Volcker years’. The economic status of the U.S. is in a crucial spot and the professionals are assuming that it will not have a ‘soft landing’. Along with that, Rosenberg is also suggesting all investors to focus on the stock market, utilities, consumer staples, and REITs.
But currently, U.S. Treasury Secretary Janet Yellen hasn’t spoken anything about it. She has also said there is nothing to be worried about as of now and she is also confirming that the U.S. consumers are in a good position. There isn’t anything officially said on this topic, thus it is quite difficult for consumers to understand the economic scenario of the country. The prediction about recession is there for a long time but the stock market is going high each day. And that is why, there is no solid explanation on this.
On this topic, Rosenberg has said ‘The S&P 500 peaked in September 2000; the recession that nobody saw coming started in March 2001. The stock market peaked in October 2007; the recession that nobody saw coming began in December, two months later’. Now it is quite difficult to understand and predict the scenarios in the United States but it is advised to everyone to be extremely conscious about the stocks, shares, and economic status of the country.
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