Michael Feroli, JPMorgan’s chief U.S. economist, joins ‘Closing Bell’ to discuss growing rates of consumer spending in Q4, labor cost pressures running stronger than pricing power and what he sees as the likelihood of a recession. For access to live and exclusive video from CNBC subscribe to CNBC PRO:
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BREAKING: Recession News
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As the global economy faces uncertainties and trade tensions continue to escalate, fears of a recession have been looming. However, according to Mike Feroli, the chief U.S. economist at JPMorgan, the concerns may be premature.
In an interview with CNBC, Feroli stated that there are several factors indicating that the U.S. is not on the edge of a recession. Firstly, the job market in the country remains strong, with low unemployment rates and steady wage growth. Additionally, consumer confidence and spending are still robust, indicating a healthy level of economic activity.
Furthermore, Feroli emphasized that the recent yield curve inversion – a phenomenon where short-term treasury rates are higher than long-term rates – does not necessarily signal an impending recession. He observed that the yield curve has flattened before without leading to a recession.
Feroli’s view is supported by other economists who believe that the current economic expansion in the U.S. still has some legs to run. A survey of economists conducted by The Wall Street Journal revealed that most expected the economic growth to remain above 2% in the next two years.
However, Feroli did acknowledge that risks to the economy exist, particularly regarding trade tensions and global growth. The ongoing trade dispute between the U.S. and China has led to tariffs and retaliatory measures, which could potentially escalate into a full-blown trade war. Furthermore, global growth has been sluggish, with several countries such as Germany and the UK experiencing slowing economies.
In conclusion, while fears of a recession are understandable given the current economic climate, experts such as Feroli are optimistic that the U.S. economy is still performing well. However, it is crucial to remain cautious and monitor any developments that may indicate a shift in the economic landscape.
The volatility in the market is alarming. How can i diversify my reserve across multiple markets while creating a comprehensive portfolio allocation that balances my concerns of risk aversion and returns that meet yearly inflation? I mean I've heard of people making up to $300k weeks during this crash and I'd like to know how.
Different story then his boss is telling
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.
He's right, we're not on the edge of a recession, we're already in one. Once the revisions come through.
As long as the FED prints up fake money for Wallstreet, everyone will be fine except for the poor
"We are not on the edge of recession" – Just like everyone said before the recession
Consumer spending is still doing OK because folks are racking up massive credit card debt. Biggest crash of all time coming.
Wall Street pitched so-called quality stocks with high profitability and low debt, as a kind of insurance against whatever the economy might throw at you. Quality stocks have underperformed the S&P500 this year, My $400k portfolio is down by approximately 20 %, any recommendations to scale up my ROI before retirement will be highly appreciated.
The more stocks fall, the more I purchase because wealth usually moves during recessions. I'm just concentrating on boosting my investments and my income in the interim while recession fears rise. I read of someone who made $$$ in profit in just six months, so apparently there are ways to triple gains in the current market. Which stocks are the finest ones to purchase at the moment or add to a watchlist?
The volatility in the market is alarming. How can i diversify my reserve across multiple markets while creating a comprehensive portfolio allocation that balances my concerns of risk aversion and returns that meet yearly inflation? I mean I've heard of people making up to $300k weeks during this crash and I'd like to know how.
it feels good to see the market in green, but just how long until we actually break even, I’m the average retail trader, DCA-ing, buying and holding on to stocks for eons, but it’s like I’m up 5% today and down 17% the next week, Yes the market is very Darwinian, there’s winners and losers, and it’s looking like I’ve been on a losing streak, while others make huge 6figure gains in the same market. What strategies are these folks using?
Dont fall for these lies. Inflation is high, there won’t be any growth for some years. Buy when the fed governors start buying the markets
Currency inflation has caused many problems. Now it is mainly to find opportunities in the stock market to make choices
As 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 set myself up for retirement, my goal is to have a portfolio of at least $850k at the age of 60.
>>>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.<<<
They don’t know the ultimate affects of 5% rates and record high Consumer Debt any more than a 3rd grader. These clowns are literally like a squirrel in the road….
So called experts have been talking about recession for 3-4 years yet we still have a strong economy. Maybe they cannot predict the future and should stop talking.
Trash news, we are led by terrible people
Sooooo, “based on the ‘last few days’ we are not on the edge of recession”. This translates to “A global recession is near”.
consumer spending going up? but GDP going down? I thought we were already in a recession. i don't believe the media koolaid. I think it's laced with something.
A stone dropped off a cliff, may not go straight down. Sometimes there are climbers in the way , getting smacked in the head. Clarifying gravity is still a thing.
I'm now bouncing back to a normal life with the help my colleague mrs Jan calandrino she introduced me into Miraveststock investment company, after all I've lost in cfx and FTX, (Miraveststocks investment company)has better my life and the life of my family Despite the economic downturn, I’m so happy I have been making good profits weekly, miraveststock pays me 22% weekly with 5% referral bonus.
I want "whatever" he is on……………………
At least we got Grittney Briner back
More like ression for the wealthy. Poor people have been in a recession since 2021.
I hope J Powell isn’t listening to this. He wants his recession and he wants it NOW!
Wait what definition are we going by?
Why the Fed said 60 trillion missing whatcha your savings account could go missing most US military are in Australia right now Obama was the one to crash America he will do jail time ban digital currency
Looks like JP Morgan needs to exit some longs b4 the market dives again
DA
What is the leading way to build capital in the stock market. What's the best way to make money from crypto Trading ??
They can’t seem to make up their damn mind
Cut profit, not jobs or services
We are – we aren't – we are – we aren't… just a game for suckers. Thanks CNBC
Well damn… Everyone says something different
Isn’t a recession when an economy recedes from growth??? Is that not what we’ve been living or are the mass layoffs an indication of something else?
Bag Holders wanted!!!
I hate it when people sit there smugly lying. That is why I no longer watch mainstream television.
That's what they do best. Confuse you poor people. Better not listen to these snakes.
We are already in recession. I don’t know what they are trying to do. Next year it’s going to be tuff
Hes blinded by his greed!
It's not about recession. It is about the dollar being to strong to handle. It will drive yields higher or visaversa then assets collapse. UVXY SQQQ DRIP
Inflation will subside because everyone wants US dollars = inflation will be exported away
Seriously? this is a joke.. Its literally the holiday season
Pamp it… for now