Worries about global growth and the inverted US yield curve has spurred fears of a recession in the near-term. But investors don't need to worry yet, according to Liz Ann Sonders, chief investment strategist at Charles Schwab.
"I think right now we're not looking at recessionary conditions," Sonders said on the CNN digital live show "Markets Now."
Although there are some clouds on the horizon, for now, the consumer is strong and lower interest rates could boost the housing sector and provide a lift to economic growth.
What about the darkening sky? If the downturn hanging over the manufacturing sector worsens, it could eventually spill over into the services economy, Sonders said. And that would be a scary development. The trade war has already weighed on corporate spending and "we're likely already in a global manufacturing recession," Sonders said.
Still, so far, the downturn has been contained.
https://www.cnn.com/business/live-news/stock-market-news-today-082119/index.html
2019-08-21 20:22:00Z
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