Lindsey Piegza, Stifel chief economist, and Quincy Krosby, LPL Financial chief global strategist, join Brian Sullivan and the ‘CNBC Special: Taking Stock 2023’ to discuss For access to live and exclusive video from CNBC subscribe to CNBC PRO:
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BREAKING: Recession News
LEARN MORE ABOUT: Bank Failures
REVEALED: Best Investment During Inflation
HOW TO INVEST IN GOLD: Gold IRA Investing
According to Lindsey Piegza, the chief economist at Stifel Financial Corp., the current economic downturn may not be as prolonged or deep as some have feared. In fact, Piegza expects the recession to be “shallow and somewhat short-lived” compared to previous economic downturns.
Piegza’s optimism stems from a number of factors, including the speed and size of the federal government’s response to the COVID-19 pandemic. The $2 trillion CARES Act, which passed in late March, included significant support for small businesses, individuals, and state and local governments, which she believes will help cushion the blow to the economy.
Additionally, Piegza points to the fact that this recession was not the result of any underlying economic problems, but rather an external shock caused by the pandemic. In other words, there was no fundamental weakness in the economic system that precipitated the downturn – it was a sudden and unexpected event.
Furthermore, Piegza notes that the economic indicators leading up to the pandemic were generally positive. Unemployment was low, wages were rising, and consumer confidence was strong. While these indicators have taken a dramatic hit in recent weeks, Piegza believes that they will eventually rebound once the pandemic subsides.
Of course, Piegza acknowledges that there are still significant risks to the economy, such as a possible second wave of COVID-19 infections and the potential for a prolonged shutdown in certain sectors of the economy. However, she remains cautiously optimistic, citing the resilience of the American economy and the willingness of policymakers to take aggressive action to support it.
In short, while the current economic downturn is certainly concerning, there are reasons to believe that it may not be as severe or long-lasting as past recessions. Piegza’s outlook may provide some measure of comfort to those who are worried about the economy’s future during these uncertain times.
Success is dependent on the action or steps you take to achieve it.. show me a man who doesn't have an investment and I will tell you how soon he'll go broke .. investment is building a safe heaven for the future. with the right choice of investment that has at least 1% minimum risk and with an expert guidance profit and interest is 100% guaranteed.
Nice timing, great video. Only if a good amount of folks do what you guys teach, just imagine how many millionaires we already have or will have in the future. Not the sad statistics where at least 50% of people are living paycheck to paycheck, even for high income earners. Great contents as always!
Ah hahahahahaha, shallow, short lived?
Removing corporate grade from the poll is ridiculous and dumb.
No Recession
looking at all the ways you "[thought] of how [you] wanted to change [your] hair." you ended up looking more like the bald emoji then billie eyelash.
This woman thinks people can exist on 10.00 per hr. Beyond greedy – totally nasty.
After the market's Significant gains in the last few years after the worst pandemic , officially entered a new
bear market earlier last year, but .My greatest concern is how to recover from all these economic and global
troubles and stay afloat especially with the political power tussle going on in
the US and for sure my
diversification process but still on fence about the market future
Blind folded dart throwers.
Instead of trying to predict and prognosticate whether or not we’re going into a recession and precisely when it’s going to happen, a better strategy is simply having a portfolio that’s well prepared for any eventually, that’s how some folks' been averaging 150K every 7week these past 4months according to Bloomberg.
If Imran Khan focuses on international debt & accountability, then prices will rise & he will not be able to control it. This is part of a dream of Muhammad Qasim which he saw in Apr 2019. Is this not the situation of Pakistan today? Muhammad Qasim Dreams
Sell the bounce and bug a bigger dip. S&P is going to 3200. A long and painful recession is coming. Keep 50% cash and use the strategy to trade around.
well, yeah, inflation is the result of government spending, it's the result of the govt not letting you go poor during covid
Despite the economic downturn, I'm happy ☺️. I have been earning $60,200 returns from my $10,000 investment every 13 days
Remember folks! They also all expected a "transitory" inflation!
Nothing new in this interview. Causes for inflation were discussed 10 months ago ad nauseam.
Happy New Year 2023 as 4.9 Million Illegal Aliens Have Crossed our Borders since President Biden Took Office! Gee thanks Border Czar Kamala Harris Willie Brown's plow
Didn't Christine LaGarde use the phrase "shallow and short-lived recession" a few days ago? Why yes, yes she did. Way to plagiarize Lindsey. https://www.youtube.com/watch?v=tmSeQ_PNsHo
It’s great to see JPMorgan buying a billion dollars worth of rental homes after we bailed them out and dumped trillions of dollars to prop up the banks! LOL. It’s good to see our tax dollars and QE stimulus going to good use!
1) how do these people know what the market currently has priced in?
2) why are some so convinced the Fed is going to have to raise higher and hold longer than market anticipates?