Famed economist David Rosenberg says the Fed's research team laughed at him in late 2007 when he warned them a recession was coming. He says the central bank is now on the verge of sparking another downturn.
Economist David Rosenberg told Insider that Fed employees laughed at his recession call in 2007.Rosenberg says the US economy is now on the brink of another downturn.delivered a presentation to economists and members of the research team at the Federal Reserve detailing why a downturn was coming.
"The person who headed the meeting for the Fed said, 'Mr. Rosenberg are you aware that the S&P 500 is at an all-time high today,'" Rosenberg told Insider."And a recession started two months later." The Federal Reserve declined to comment for this story. The index takes into account 10 different leading indicators, including: the gap between 10-year Treasury yields and the fed funds rate; stock-market performance; manufacturing activity; consumer sentiment; initial unemployment claims; home building permits; and more.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Dow's hot streak is bad news for stocks, recession underway: RosenbergThe Dow's latest winning streak is bad news for stocks - and a recession might be underway, top economist David Rosenberg says
Les mer »
Minneapolis Fed chief Kashkari hopeful US economy can avoid recession as inflation fight continuesMinneapolis Fed President Neel Kashkari said Sunday that Fed policymakers are increasingly hopeful of achieving a 'soft landing' that tames inflation without causing a deep recession.
Les mer »
Charting the Global Economy: Fed, ECB Press on With Rate HikesThe Federal Reserve, European Central Bank and Bank of Japan headlined a pivotal week for central banks, with US and European policymakers opting for additional interest-rate hikes.
Les mer »
The Fed's newfound focus on data is bad news for the sliding dollarWhat You Need To Know About Markets And The Economy
Les mer »
New Risks Shadow Bond Market as Fed’s Rate-Hike Cycle Nears EndBets on a bond-market rally aren’t in the clear just yet.
Les mer »
Analysis | An ‘institution guy’ in the House, Steve Womack is fed up and might retireAnalysis: A seven-term congressman, Rep. Steve Womack has grown so frustrated with GOP leadership's kowtowing to a far-right faction that he's considering leaving the House.
Les mer »