Endless spending and low interest rates resulted in 40-year high inflation.
Now, over half of American adults believe we are in a recession.
Even with endless deficit spending, consumer sentiment is horrible.
Follow us @KobeissiLetter for real time analysis as this develops.
— The Kobeissi Letter (@KobeissiLetter) June 10, 2024
Food Costs are soaring to all-time highs 🚨 pic.twitter.com/Uu2Fr2PIga
— Win Smart, CFA (@WinfieldSmart) June 10, 2024
The S&P 500 has declined 23.5% on average within 195 days from the first Fed rate cut in the past.
This has been when the US central bank was cutting rates in response to an economic downturn.
In other words, rate cuts are usually not a great news initially. pic.twitter.com/aXIhW3Ujwn
— Global Markets Investor (@GlobalMktObserv) June 10, 2024