The lingering impact of the 2008-2009 Great Recession compounded by the Covid-19 downturn continues to haunt the US economy, stirring concerns about financial stability.
BCA Research, a Canadian investment firm, warns of impending volatility in the US stock market.
BCA Research’s chief global strategist, Peter Berezin, predicts a potential recession by early 2025, foreseeing the S&P 500 plunging to 3,750-a 30% drop from current levels.
He attributes this to expected labor market slowdowns impacting consumer spending, crucial for economic growth, and notes the intricate relationship between inflation and unemployment.
Berezin also highlights global economic challenges, including slowdowns in China and Europe, which could exacerbate pressures on international stock markets.
Despite the Dow Jones Industrial Average hitting record highs in mid-May, recent market turbulence has cast a shadow over future prospects. This pessimistic outlook comes after a tumultuous year for financial markets.
Robert Kiyosaki, author of Rich Dad Poor Dad, has issued a bold prediction on silver, calling it the “best asymmetric buy” currently available.
Fresh data on Personal Consumption Expenditures (PCE) — the Federal Reserve’s preferred inflation gauge — shows inflation ticked higher in May, potentially delaying the long-awaited Fed rate cut into September or later.
Federal Reserve Chair Jerome Powell is once again under fire, this time facing renewed criticism from Donald Trump over the Fed’s decision to hold interest rates steady in June.
Billionaire investor Ray Dalio has sounded the alarm over America’s soaring national debt, warning of a looming economic crisis if no action is taken.