Posted BY: | NwoReport
Is a recession coming? Is this the calm before the storm? JPMorgan Asset Management Global Head of Fixed Income Bob Michele said that today’s economic climate calls to mind the lull seen in the 2008 financial crisis.
Michele, who manages more than $700 billion worth of assets for JPMorgan, thinks the current financial situation is pretty deceptive. In an interview, he said: “This does remind me an awful lot of that March-to-June period in 2008.”
A recession has been brewing for much of the year. The recent resurgence in the stock market following climbing interest rates and high-profile bank failures is being interpreted by some financial experts as a sign that a recession could be just around the corner. The coming months’ data could end up showing that we are now in that “calm before the storm” phase.