We’re Now In A ‘Technical Recession’. What Will Happen Next? | David Hay
As we head into the heat of summer, the US economy finds itself in the doldrums.
GDP growth for the year has been negative both in Q1 and Q2 — which means we’re now officially in a “technical recession”
Inflation remains at a 41-year high. The financial markets continue to suffer one of their worst years so far in history. And now the housing and jobs markets are also cooling fast.
What can we expect from the second half of the year?
For perspective, we turn to David Hay, co-founder & co-Chief Investment Officer of Evergreen Gavekal, a financial advisory firm managing $3.5 billion of investor capital.
As its steward, he can’t simply rely on an “opinion”; has to steer this capital safely through what’s coming next. So his conviction needs to be as high as possible.
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