That’s Biden/Harrisnomics!
…and the head of The Conference Board says ‘nothing to see here’…
“The LEI continues to fall on a month-over-month basis, but the six-month annual growth rate no longer signals recession ahead,” said Justyna Zabinska-La Monica, Senior Manager, Business Cycle Indicators, at The Conference Board.
For context, outside of the great financial crisis, this is the worst decline in LEI since the mid ’70s!!!
And what is behind the ‘no recession’ call… US equity strength!!
Thank The Feral Reserve for the equity spike!
So, to summarize – almost all the macro data signals weakening growth for years… but because stocks are up (and credit spreads down), there’s no recession anywhere on the horizon!!??