Article Synopsis
In a volatile week for the stock market, economist Stephanie Pomboy warns that more economic pain is on the horizon, particularly as Wall Street begins to acknowledge a long-ignored recession affecting Middle America. Despite a slight dip in jobless claims, Pomboy suggests that inflation concerns and rising unemployment will continue to strain the economy.
She emphasizes that upcoming employment and inflation data will be critical, as they will increasingly drive market reactions. Investors remain uncertain, grappling with the reality of a consumer recession that Wall Street is only now starting to recognize.
US economist signals a painful ‘reckoning’ looming over markets
8/8/2024
Article from Fox Business by Kristen Altus
Article Synopsis
