The chief economist of Wells Fargo warns that the American economy is `skating fairly close to a recession '' – Here is his prospects
The chief economist of the banking giant Wells Fargo, Jay Bryson, warns that America is terribly close to the economic recession.
In a new interview on the Squawk box of CNBC, Bryson said It does not plan a recession at the moment, but it would not take much more negative economic data to modify these perspectives.
“We do not have the economy that goes into recession. I would say that we skate enough close to one. Another big shock would not be needed to potentially push the economy in a recession if things would be weakened later. ”
It expects next year to have greater economic growth than in 2025, which faces a slowdown in the impact of Trump's prices.
“2026 will be a happy new year than 2025. 2025 is, for us, more on the negative effects of prices. 2026 more concerns a modest stimulus from the budgetary side, monetary ease and deregulation. ”
Bryson also predicts that in about a year, the Fed will have lowered the current rate of 425-450 base points to around 100 base points to stimulate the economy.
“In a year, I still think that the rates will likely be around 100 basic points …
If the unemployment rate is starting to appear later this year, which we think it will do, because the prices slow down the economy, then we think that the Fed was spinning and then begins to reduce rates. »»
https://www.youtube.com/watch?v=m-zyrlswu-q
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