Cameron Dawson, chief investment officer for NewEdge Wealth, and Stephanie Link, Hightower Advisors chief investment strategist and portfolio manager, join ‘Closing Bell’ to discuss markets, the economic reports from this week, and what it means for the fall season….(read more)
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Recession May Not Hit Until the End of the First Half of 2024: NewEdge Wealth’s Cameron Dawson
The global economy has been gripped by uncertainty and speculation regarding a potential recession. With the ongoing COVID-19 pandemic and its lasting effects on businesses, it’s natural for investors and experts to ponder when the next economic downturn might occur. According to Cameron Dawson, Chief Economist at NewEdge Wealth, the chances of a recession hitting before the end of the first half of 2024 are relatively minimal.
Dawson’s prediction comes as a relief for businesses and individuals who have been cautiously navigating their financial decisions amidst the pandemic and its aftermath. His assertion is based on a combination of factors that he believes will keep the global economy afloat for the foreseeable future.
One major factor is the progressive recovery observed in various industries. As vaccination efforts continue to ramp up and governments provide stimulus packages, several sectors are rebounding from the economic shocks caused by the pandemic. The lifting of lockdown restrictions is allowing businesses to resume operations, leading to increased consumer spending and a resurgence in overall economic activity.
Dawson argues that this recovery trend will continue to gain momentum as the year progresses, providing a buffer against a potential recession. Key indicators such as retail sales, manufacturing output, and consumer confidence are rising steadily, indicating a sustained upward trajectory for the global economy.
Additionally, the unprecedented levels of fiscal and monetary support enacted by governments and central banks around the world have further bolstered economies. These measures have not only provided relief to struggling businesses but have also injected liquidity into financial markets, stimulating economic growth.
Furthermore, Dawson points out that global supply chains are gradually stabilizing after the initial disruptions caused by the pandemic. As vaccine distribution becomes more widespread, countries are better equipped to handle future outbreaks, minimizing the potential impact on trade and production.
However, Dawson acknowledges that uncertainties still exist, including the emergence of new COVID-19 variants and potential setbacks in vaccine distribution. Geopolitical tensions and the impact of climate change are also factors that may affect global economic stability. Nevertheless, he believes that these risks are manageable and can be mitigated through proactive measures.
While Dawson’s optimistic outlook provides some sense of relief, it is important to note that economic predictions are subject to change and unexpected events can disrupt even the most well-informed forecasts. Vigilance and adaptability will be crucial for individuals and businesses alike, ensuring they are prepared for any potential economic downturn.
In conclusion, according to Cameron Dawson, Chief Economist at NewEdge Wealth, the chances of a recession hitting before the end of the first half of 2024 are relatively low. Factors such as the progressive recovery in various industries, fiscal and monetary support, and stabilizing global supply chains are expected to keep the global economy resilient. However, it is essential to remain cautious, as unforeseen events can alter the trajectory of the economy.
Hit 200k today, am grateful to you for all the knowledge and nuggets you had thrown my way over the last months, i started with 14k in July 2022.
These talking heads have been talking about recession since Biden was elected.
Biden is screwed, this means he's going to do something desperate to avoid a recession during election year. Idk why people don't get that recession hasn't happened because there's been government intervention aka SVB bailout…..
Increasing the debt ceiling and printing more money, like 3 trillions per year, if those money were "whitewashed" through "BBB" and "big CHIP" and new energy etc. with 50% conversion rate, then US GDP will grow 6% per Biden Economy Miracle.
If recession looks like her, then I'll gladly take it.
she has been so wrong. Its fascinating she still has a job and invited on tv and just refuses to learn or correct course!
Cameron Dawson is part of the broken clock school of economics where by you call for a recession next year, every years. At some point you will be right and when you are wrong, no one holds you accountable.
She can tell me anything
LOL the anchor asks the same question to everyone and yet no one says one thing – it is all manipulation happening so that institutions can lap up as much money as possible before sith hits the fan
Whatever you say, sweetheart.
Election Day 2024!
They said all of this about 2023
Just keep kicking that recession can down the road until they are right. Then say they told ya so.
They said it was gonna happen in 2023. Never trust predictions from the so called experts
They said the same thing last September about 2023
May not or may yes. If it would be so easy to predict. Market lives in separate bubble can fall before or run during, who knows, except market makers of course..
When a recession comes , it does in silence .
She is HOT! She said. words.
Thanks bud for keepin us financially
Educated! Regardless of how bad it gets on the economy, I still make over $20,000 every single week.