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Ouch! The S&P 500 ended the first half of the year with its worst performance since 1970, down more than 20%, cementing its bear market status. And the recession drumbeat is getting louder. This morning, leading Wall Street economist, Nancy Lazar told clients \\u201ca recession is coming sooner than you think\\u201d PiperlSandler\\u2019s Global Chief Economist blames \\u201csticky inflation\\u201d, \\u201cvery aggressive Fed tightening, and a \\u201csevere corporate profit recession\\u201d for her forecast of a mild recession with the economy contracting starting in the final quarter of this year into the first half of next year. 

But this week\\u2019s WEALTHTRACK guest is way ahead of her and the few others just joining the recession club. He\\u2019s been warning clients about the likelihood of a downturn for months. 

Our guest is David Rosenberg, President, Chief Economist, and Strategist at his independent economic consulting firm Rosenberg Research which he founded in January 2020.

High inflation is at the top of the Federal Reserve\\u2019s, Washington\'s, and Wall Street\\u2019s list.  Rosenberg says they are looking at the wrong numbers and that disinflation is already taking hold. 

Interest rates are expected to go higher for longer.  Rosenberg cites evidence of economic slowing which will require easing sooner than expected. 

As I just mentioned, the likelihood of recession is still being debated. Rosenberg is forecasting a recession this year.  

What about the already steep bear market decline? Rosenberg warns about the lure of bear market rallies. 

Which prevailing views is Rosenberg challenging now?

WEALTHTRACK Episode 1901 broadcast on July 01, 2022 

More info: https://wealthtrack.com/influential-prescient-economist-dave-rosenberg-warns-of-imminent-recession-an-extended-bear-market/