Economic Cycle Research Institute co-founder Lakshman Achuthan: U.S. recession "began around the middle of last year"
Lakshman Achuthan, co-founder of the Economic Cycle Research Institute, told Tom Keene and Sara Eisen on “Bloomberg Surveillance” this morning that a U.S. recession
“began around the middle of last year.”
Mr. Achuthan goes onto say..
“the entire West is in the yo-yo years. They have all been having growth stair stepping down. It is very weak growth with higher cycle volatility which will give you more frequent recessions.” transcript and video below fold
“All the growth rates are coming down in our broad indicators. Look, let’s be clear — the Fed told you they are targeting financial assets as part of their monetary policy. They have specifically called out people’s 401k’s as something that they are looking to target.
So, I submit perhaps some of the market prices, as they pertain to economic fundamentals, may be a little wacky, which is why when we look at leading indicators, we do not have all eggs in one basket.”