Liz Ann Sonders, Charles Schwab chief investment strategist and managing director, joins ‘Squawk on the Street’ to discuss recession calls for investors, how Sonders thinks about macro headwinds going forward, and more. For access to live and exclusive video from CNBC subscribe to CNBC PRO:
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BREAKING: Recession News
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Charles Schwab’s Chief Investment Strategist, Liz Ann Sonders, recently made waves with her assertion that the United States has been in a “rolling recession” for years. Sonders’ comments have once again ignited a debate around the state of the American economy and how it has been impacted by various factors.
A recession is traditionally defined as a period of economic decline marked by reduced economic activity, high unemployment rates, and a contraction in various sectors. It is usually characterized by negative GDP growth for at least two consecutive quarters. However, Sonders argues that the standard definition is no longer sufficient to capture the economic reality in the United States.
According to Sonders, the rolling recession is a prolonged period of below-average economic growth and a lackluster recovery that has lasted for years. She argues that while the headlines may suggest that the economy is recovering, the reality is far from rosy for many Americans. Sonders highlights several reasons for her assessment, including stagnant wage growth, rising income inequality, and persistently low inflation.
One of the most significant factors behind this rolling recession, as Sonders points out, is the growing wealth gap. Despite the stock market reaching record highs, the fruits of this growth have not been evenly distributed. The majority of gains have gone to the wealthiest individuals, exacerbating income inequality and leaving average workers struggling to make ends meet.
Another factor contributing to the rolling recession is wage stagnation. While unemployment rates have been low, wage growth has remained sluggish. This has made it challenging for many households to keep up with the rising cost of living. Inflation, too, has stayed unusually low, making it difficult for the Federal Reserve to stimulate economic growth through interest rate adjustments.
Sonders’ analysis challenges the prevailing narrative that the U.S. economy is in a constant state of expansion. She argues that despite headline indicators suggesting otherwise, millions of Americans have yet to experience the beneficence of a robust recovery. This rolling recession, in her view, is a wake-up call for policymakers and investors to reassess their traditional measures of economic health.
Sonders’ comments have generated both support and criticism. Supporters believe that her analysis brings attention to the underlying problems faced by many Americans. They argue that policymakers should shift their focus towards addressing income inequality and ensuring more inclusive economic growth.
However, critics argue that Sonders’ perspective is too pessimistic. They contend that the traditional indicators still do hold value in assessing economic health and that the recovery should not be dismissed. They point out that GDP growth has been positive, unemployment rates have steadily declined, and the stock market has experienced notable success.
Despite the debate, it is crucial to acknowledge Sonders’ analysis as a reminder that the American economy is complex and multifaceted. While it is true that traditional economic measurements may not fully capture the lived experiences of many individuals, it is equally important not to discount positive aspects of the recovery.
The concept of a rolling recession prompts an essential discussion about income inequality, wage growth, and the well-being of everyday Americans. Whether or not one agrees with Sonders’ assessment, her comments serve as a reminder that an all-encompassing understanding of the economy requires a nuanced and empathetic approach.
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.
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Liz Ann looking very groovy today.
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Ms. Sonders were wondering about an impending Real Actual recession. Not the theory of a current years long recession. Lmaoff!! That was literally a joke right?
Oooh, "rolling recession". That's a new one! …Just say "recession", you cowards. Identify the wound, put pressure on it to stop the bleeding, clean and disinfect it, cover with sterilized bandage, and let it heal. Stop ignoring it, and when begins to heal, don't pick the scab.