- David Rosenberg rang a few of his most bearish alarms but concerning the US economic system.
- “Do not imagine the hype! This economic system is a lifeless man strolling,” the highest economist tweeted.
David Rosenberg simply turned much more bearish concerning the US economic system.
“Do not imagine the hype! This economic system is a lifeless man strolling,” the Rosenberg Analysis chief stated in a tweet on Thursday that additionally linked to an interview he gave to Wealthion.
“You take a look at america and it appears to me that we’re nonetheless making this transition from growth to recession,” Rosenberg stated.
“I do know it sounds extraordinarily controversial to speak concerning the US going into recession, simply because the lagging and coincident indicators are telling you that we’re into one thing brand-spanking new a few no-landing or a smooth touchdown. We’re heading right into a hard-landing within the second half of the yr,” he stated.
That strengthened the case for a world recession, Rosenberg added.
The veteran economist additionally hit out on the Federal Reserve too, saying it “cherry picks” a popular inflation measure and will trigger appreciable hurt to the US economic system if it continued to boost charges aggressively.
Rosenberg doubled down on deflation fears, including the Fed had already hit its 2% inflation goal in line with measures aside from the Shopper Costs Index.
“They simply refuse to imagine it due to hubris,” he stated of the central financial institution. “They will crush the economic system – we’ve not seen the complete results of tightening but,” he argued.
Rosenberg has been vocal about US recession considerations, saying an financial downturn had arrived however no person’s but observed it.