CNBC: Even if the Fed Cuts Rates to Zero, David Rosenberg Predicts a Recession is Less Than 12 Months Away

Article by Stephanie Landsman in CNBC financial

Despite the Federal Reserve’s latest efforts to boost the economy, long-time market bear David Rosenberg warns a recession is coming.

The Gluskin Sheff chief economist and strategist predicts economic growth in the U.S. will turn negative sooner than most investors anticipate — setting the stage for a painful market pullback.

“There’s a recession coming in the next 12 months,” he said last Thursday on CNBC’s “Futures Now.

According to Rosenberg, it’s just a matter of time until economic data sours and Powell is forced to resume easing in the coming months.

“I think that they’ll go in October and December and through 2020,” he added.

Whether the Fed cuts all the way to zero or not, Rosenberg speculates the outcome will be the same: Recession.

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