Michael Schumacher, Wells Fargo Securities head of macro strategy, joins ‘Fast Money’ to talk the debt ceiling deadline, recession probability, and the Federal Reserve’s next move. For access to live and exclusive video from CNBC subscribe to CNBC PRO:
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BREAKING: Recession News
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In these uncertain economic times, it is common to hear discussions about a possible recession looming over the horizon. However, according to Michael Schumacher, the head of macro strategy at Wells Fargo Securities, there are no visible signs of a recession just yet.
Schumacher’s remarks come as a reassurance to investors and individuals who have been witnessing increased volatility in financial markets and conflicting reports about the health of the global economy. With concerns regarding trade tensions, slowing global growth, and fluctuating stock markets, many have feared that an economic downturn might be imminent.
Nevertheless, Schumacher argues that the indicators he has observed do not point towards an impending recession. He asserts that while economic growth has decelerated, it is important to differentiate between a slowdown and a recession. A slowdown, he explains, is a natural part of economic cycles and does not necessarily lead to a recession.
Schumacher also highlights the strength of the American consumer, which remains a crucial driver of economic growth. He notes that consumer confidence remains high, and unemployment rates continue to decrease. These factors suggest that there is still momentum in the economy, assuaging concerns of an imminent recession.
Furthermore, the head of Wells Fargo Securities highlights the Federal Reserve’s proactive approach to monetary policy. Schumacher points out that the Fed has recently cut interest rates in an effort to support the economy and stimulate growth. This move by the central bank demonstrates its willingness to intervene and prevent a potential recession.
It is essential to consider that economic predictions are inherently challenging, and unexpected circumstances can rapidly change the course of the economy. However, Schumacher’s analysis provides a valuable perspective for investors and policymakers to consider. It encourages a cautious approach rather than panicking in the face of uncertain economic conditions.
In conclusion, despite the increased discussions about a possible recession, Wells Fargo Securities’ Michael Schumacher remains optimistic. According to Schumacher, there are currently no visible signs of a recession appearing anytime soon. While the economy might be experiencing a slowdown, Schumacher points to the strength of the American consumer and the proactive actions taken by the Federal Reserve as reassuring factors. As the world navigates these uncertain economic waters, investors and individuals can find solace in Schumacher’s analysis and adopt a prudent approach to managing their financial affairs.
U-Tube won't let me edit spelling errors(wiki/realized) -so disregard my comment on account of that, if you choose. It's your $$$.
Wells fargo is next
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Has the economic sun exploded? We won't admit that for a good 8 minutes.
This guy is a real freaking JOKE
At last, CNBC got someone who fits their narrative…
If I had a dime for every time I've heard that
Depression 2.0 coming. These bozos don’t see it.
Lmao! This guy is absolutely delusional!
I say don't put all your eggs in onebasket
This guys way off
It’s worse than it’s worse than a recession
I recently made more purchases. Saving money for a market downturn is likewise a bad idea. There are numerous ways to look at recessions and depressions, we cannot always expect to make large returns, and taking chances is better than doing nothing. The bottom line is that you will achieve remarkable results by diversifying your portfolio and making wise decisions. My portfolio's raw earnings rose by $608k in just 5 months.
So would it be a good time to withdraw all my money from Wells Fargo. They have always veen pretty shady on their business dealings. From creating ghost accounts and many things. I think Wells fargo is on the edge of going bankrupt. They payed 3.7 billions just recently to settle a government dispute
Economists and business leaders are voicing concerns at the start of 2023 that the year could be a difficult one. JPMorgan Chase & Co. Chief Executive Jamie Dimon said that the Federal Reserve may need to raise interest rates to 6% to fight inflation, higher than the peak level between 5% and 5.5% in 2023 that most Fed officials penciled in after their December meeting. Although I read an article of people that grossed profits up to $500k during this crash, what are the best stocks to buy/short now or put on a watchlist.
Where did they get this clown out 4 biggest banks to ever fail 3 of them happened within last 2 months whatta complete clown
When the media tells us we're in a recession, we'll be in a depression.
It will be difficult to have a recession with 3.5% unemployment
Get your money out asap
Melanie Schaffer
Benzinga Editor
"The FED was going to base a raise on, SPY Trust, Gold and Bitcoin. 3 things the Fed has nothing to do with…….were do "journalist" get this misinformation?
ready for more negative days. Wells Fargo no fake account tricks.
The American Finance sector was the victim of a coordinated attack today
There will be no Recession as long as people continue spending money as if it grows on Trees . It looks as if the amount of money that people currently have has been greatly underestimated .
This is why we all have to vote for president Biden in 2024. With president Biden in power, there will never be a recession. The economy growth will only break one record after another
And Santa is real
4 banks have collapsed in 2 months , inverted yield curve …no signs