Bob Michele, JPMorgan’s head of global fixed income, and Richard Bernstein, CEO and CIO of Bernstein Advisors, join ‘The Exchange’ to discuss the hard landing scenario, opportunity in treasury yields, and low-risk investments outside of the Magnificent 7. For access to live and exclusive video from CNBC subscribe to CNBC PRO:
» Subscribe to CNBC TV:
» Subscribe to CNBC:
Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide.
Connect with CNBC News Online
Get the latest news:
Follow CNBC on LinkedIn:
Follow CNBC News on Facebook:
Follow CNBC News on Twitter:
Follow CNBC News on Instagram:
#CNBC
#CNBCTV …(read more)
BREAKING: Recession News
LEARN MORE ABOUT: Bank Failures
REVEALED: Best Investment During Inflation
HOW TO INVEST IN GOLD: Gold IRA Investing
Expect Recession Around Year End: JPMorgan’s Bob Michele
In a recent statement, JPMorgan’s Chief Investment Officer, Bob Michele, has warned that a recession is likely to hit around year-end. With the global economy still grappling with the aftermath of the COVID-19 pandemic, Michele’s prediction is a cause for concern for investors and policymakers alike.
Michele bases his forecast on several factors that point towards a tumultuous economic period ahead. The primary driver behind his prediction is a combination of rising inflation and potential interest rate hikes by central banks. As economies recover and reopen, there has been a surge in consumer spending and investment activity that has fueled inflationary pressures. This, in turn, has raised concerns about central banks tightening monetary policies to curb inflation, which could lead to an economic downturn.
Furthermore, Michele highlights the lingering uncertainty surrounding the withdrawal of government stimulus programs. Many countries deployed massive fiscal measures to support businesses and individuals during the pandemic-induced lockdowns. However, as economies reopen and the immediate crisis subsides, governments will inevitably confront the challenge of winding down these programs. This process could potentially disrupt the delicate recovery and even push some businesses and households into financial distress, thereby triggering a recession.
The ongoing global supply chain disruptions also play a significant role in Michele’s prediction. Since the pandemic hit, global trade has been severely impacted, leading to supply chain bottlenecks and shortages of crucial goods. These disruptions have not only contributed to inflationary pressures but also eroded consumer and business confidence. As a result, businesses may face heightened operational challenges and reduced profitability, further hampering economic growth.
Despite these warning signs, it is important to approach any recession prediction with caution. Economic forecasting is a complex task, and unforeseen events can swiftly alter outlooks. Moreover, many factors affecting the trajectory of the global economy remain uncertain. For instance, the effectiveness and timing of vaccine distribution, potential new virus variants, and geopolitical tensions could all influence the likelihood and timing of a recession.
Nevertheless, Michele’s concerns should not be disregarded entirely. JPMorgan’s track record and their access to extensive economic data give credence to their CIO’s insights. Investors and policymakers should take this warning as an opportunity to assess their risk exposure and prepare contingency plans.
In conclusion, the prediction of a recession around year-end by JPMorgan’s Bob Michele serves as a reminder that the path to global economic recovery remains volatile. Rising inflation, potential interest rate hikes, withdrawal of government stimulus programs, and global supply chain disruptions all contribute to the concerns raised by Michele. While economic forecasting is inherently uncertain, investors and policymakers should heed these warnings and stay vigilant in their decision-making processes.
These people have been miscalculating this “recession” for almost 3 years now.
Thank you Jesus.$32,000 weekly profit Our lord Jesus have lifted up my Life!!!
Fake banks must close they have too much power over government
If we don’t have a recession by year end it just shows that this guy and JPM are morons. Please pin my comment.
Plot No 35, First Floor, Indira Press Complex, Behind SBI Mutual Fund, Zone 1, MP Nagar, Bhopal, Madhya Pradesh 462011
I have been following your videos for Months now and i have been wanting to make outstanding progress with my investment. Truly, The SP500 is a self-correcting portfolio, Following this principles, i want suggestions as to a way to protect my portfolio of $580k.
Not what his colleagues said wtf lol
The recession talk is old and played out. It's been years of experts predicting recession.
Why cant all these morons not realize this is A. A bear market rally and B. The fed is not done omg the fed has even said they arent done for so long and sense May all these morons on CNBC say ohhh ohhhh the fed is done
People like this have been saying there will be a recession for two years now. There will be no recession. Let’s be real
Recession fears mount on Wall Street and inflation remains well above the Fed's 2% target, some of the top commentators in markets, business, and economics have been sounding off on just how bad they think the next downturn might be — and how far stocks may have to fall. I need ideas and advice on what investments to make to profit during these economic crisis.
They have ben forecasting inflation for 8 trimesters in a row now, sooner or later they will be right. So far 0/8
these expert sure think public are fools, Same JPMC chief said we will avoid a recession and a soft landing.
Every time I get groceries, the bill is higher. It's not getting better. It's much worse!
In light of the impending recession and the fact that inflation is still far higher than the Fed's 2% target, several of the most prominent market analysts have been expressing their views on how terrible they believe the next downturn will be and how far stocks may have to fall. I need advice on what investments to make because I'm attempting to create a portfolio for my children that will at least be $850k in value.
Tomorrow there will be another employee from JP Morganon your show that will say something different.
honestly capitalism have been when immigrants coming to the US to increase the workforce and help america GDP but as there is a new currency China holding back their educated people. Making US to be left out. Immigrants are usually the wealthy people who spends millions for the US economy. Racism, Patriotism, and Gun violence these are causing a problem to make them want to come back.
It was Q1, then Q2, then 2H, now it's "around" year end… bahahahaha I want their job, seems super easy to never be right and keep guessing
China doing better than the Nasdaq?
Is this a joke?
There are so many dooms videos on China at the moment. He can't be talking about investing in China…?
We need Donald trump when he was in office the stocks were high and people had jobs and there was no war in him presidency
Recession coming for the last 2 years
wrong fool
Fake news we been in recession since 2021
Zzz.. Bob's' been calling recession forever. He'll eventually be right. Just like Nouriel Roubini
I do agree not manifest recession what are ways to protect people from losing money. Which demos are manipulating ice berg coming
yeah china…. SURE
When people can no longer see the horizon we are provably at the peak, it's like standing on top of a mountain or going over a high wave at sea, can't see the path forward anymore. However you know what? anything can happen right? Maybe the trillions sitting on M2 money supply will save everything, even the FED GDPNOW is showing 3.5% growth for Q3 so every side is pulling in a different direction. I have no idea what comes next.
All this mess start 3 years ago oil companies making billions on profits increasing oil prices and creating a huge mess in economy
Again it will be mild
Mate has some big bags underwater in the longggg bond. Hold fixed fiat contracts and get rekt
I work with Wixpool. In just 5 months, I made a profit of +150%.
I work with Wixpool. In just 5 months, I made a profit of +150%.
I work with Wixpool. In just 5 months, I made a profit of +150%.
I work with Wixpool. In just 5 months, I made a profit of +150%.