US Economy on Brink of Recession: Dire Warning from BCA Research
05.07.2024 12:00 1 min. read Alexander Stefanov
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.
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