Bloomberg Asharq hosted David Darst, CFA and Chief Advisor to The Family Office, to discuss the inflation and recession outlook in the United States. Below are the highlights of the interview:
- Markets expect an increase of 0.5% in the Core Consumer Price Index that will be announced on August 10.
- Employment increased in July, especially in hospitality, services, healthcare, and education.
- Earnings are decreasing, which indicates rising risks. Also, the slowdown in Europe and China will affect the earnings of multinationals.
- Inflation is receding and recession is approaching. We now have a bear market not a recession.
Watch the full interview above.