With the Fed indicating to remain hawkish to fight inflation, the stock market ended last week with a loss, continuing its losing streak for three straight weeks. This, along with the economic contraction for two consecutive quarters of the year, increases the odds of a recession.
According to Peter Boockvar, Chief Investment Officer at Bleakley Financial Group, the latest data on housing and manufacturing show why the United States will not be able to avoid a recession. The National Association of Home Builders/Wells Fargo Housing Market Index fell into negative territory in August.
