Lindsey Piegza, Stifel chief economist, and Quincy Krosby, LPL Financial chief global strategist, join Brian Sullivan and the 'CNBC Special: Taking Stock 2023' to discuss For access to live and exclusive video from CNBC subscribe to CNBC PRO: » Subscribe to CNBC TV: » Subscribe to CNBC: Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide. Connect with CNBC News Online Get the latest news: Follow CNBC on LinkedIn: Follow CNBC News on Facebook: Follow CNBC News on Twitter: Follow CNBC News on Instagram: #CNBC #CNBCTV...(read more)
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According to Lindsey Piegza, the chief economist at Stifel Financial Corp., the current economic downturn may not be as prolonged or deep as some have feared. In fact, Piegza expects the recession to be "shallow and somewhat short-lived" compared to previous economic downturns. Piegza's optimism stems from a number of factors, including the speed and size of the federal government's response to the COVID-19 pandemic. The $2 trillion CARES Act, which passed in late March, included significant support for small businesses, individuals, and state and local governments, which she believes will help cushion the blow to the economy. Additionally, Piegza points to the fact that this recession was not the result of any underlying economic problems, but rather an external shock caused by the pandemic. In other words, there was no fundamental weakness in the economic system that precipitated the downturn - it was a sudden and unexpected event. Furthermore, Piegza notes that the economic indicators leading up to the pandemic were generally positive. Unemployment was low, wages were rising, and consumer confidence was strong. While these indicators have taken a dramatic hit in recent weeks, Piegza believes that they will eventually rebound once the pandemic subsides. Of course, Piegza acknowledges that there are still significant risks to the economy, such as a possible second wave of COVID-19 infections and the potential for a prolonged shutdown in certain sectors of the economy. However, she remains cautiously optimistic, citing the resilience of the American economy and the willingness of policymakers to take aggressive action to support it. In short, while the current economic downturn is certainly concerning, there are reasons to believe that it may not be as severe or long-lasting as past recessions. Piegza's outlook may provide some measure of comfort to those who are worried about the economy's future during these uncertain times. https://inflationprotection.org/according-to-stifels-piegza-a-temporary-and-minor-economic-downturn-is-likely/?feed_id=102824&_unique_id=6476679caa0d6 #Inflation #Retirement #GoldIRA #Wealth #Investing #breakingnews #businessnews #cable #cablenews #CNBC #FastMoney #financenews #financestock #financialnews #money #moneytips #newschannel #newsstation #stockmarket #stockmarketnews #Stocks #usnews #worldnews #RecessionNews #breakingnews #businessnews #cable #cablenews #CNBC #FastMoney #financenews #financestock #financialnews #money #moneytips #newschannel #newsstation #stockmarket #stockmarketnews #Stocks #usnews #worldnews
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