Jamie Cox, managing partner at Harris Financial Group, and Frances Donald, chief economist and strategist at Manulife Investment Management, join 'The Exchange' to discuss the accumulating effect of interest rate policy, indicators of a recession, and the rise in jobless claims....(read more)
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According to Manulife's Jamie Cox, nearly every data indicator is suggesting an impending recession. This news is important for investors and the general public to be aware of as it can impact their finances and the overall economy. One data point to consider is the yield curve, which has historically shown to be a reliable predictor of a recession. The yield curve is the difference between the interest rates on short-term and long-term government bonds. When the yield curve inverts, meaning short-term interest rates are higher than long-term interest rates, it has preceded every recession in the past four decades. Currently, the yield curve is getting flatter, which is a cause for concern. Another indicator is the manufacturing sector, which has been experiencing a slowdown. The Institute for Supply Management's factory index dropped to its lowest level in a decade, indicating weaker demand for goods and services. This could lead to layoffs and decreased consumer spending, which would further harm the economy. Additionally, consumer confidence has been declining. While unemployment remains low, consumers are becoming more hesitant to spend their money. This could be due to concerns over trade disputes, political uncertainty, and an overall lack of economic growth. If consumers stop spending, it could have a significant negative impact on businesses and the economy as a whole. The ongoing trade tensions between the US and China are also contributing to the potential recession. Tariffs and other trade barriers are increasing costs for businesses, which could lead to price increases for consumers. This could further reduce spending and slow down economic growth. It is important to note that no one can accurately predict the timing or severity of a recession. However, the various data indicators are pointing towards a potential economic downturn. Investors and individuals can prepare by diversifying their investments, building an emergency fund, and reducing expenses to weather any potential financial storm. In conclusion, the various data indicators analyzed by Manulife's Jamie Cox are suggesting an impending recession. It is important for individuals and investors to be aware of this news and take steps to prepare for any potential financial hardships. https://inflationprotection.org/jamie-cox-of-manulife-states-that-nearly-all-data-indicators-point-towards-an-upcoming-recession/?feed_id=96188&_unique_id=645b9f39648e3 #Inflation #Retirement #GoldIRA #Wealth #Investing #breakingnews #business #CNBC #economy #Finance #investing #kellyevans #money #news #newsroom #politics #Stocks #theexchange #WallStreet #RecessionNews #breakingnews #business #CNBC #economy #Finance #investing #kellyevans #money #news #newsroom #politics #Stocks #theexchange #WallStreet
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