In the Federal Reserve¡¯s quiet period before its officials meet to decide their final actions this year, Wall Street watchers are filling the void, loudly warning that next year¡¯s outlook for the U.S. economy and stocks is grim.
From Goldman Sachs Group¡¯s David Solomon caution that the economy faces ¡°bumpy times ahead,¡± to JPMorgan Chase¡¯s Jamie Dimon grimmer view that this would be a ¡°mild to hard recession,¡± and Morgan Stanley Wealth Management¡¯s Lisa Shalett, who said that corporations are facing a ¡°rude awakening¡± on earnings, the messages have become increasingly dire.
¡°We do not think the economic conditions for a sustained upturn are yet in place,¡± Mark Haefele, chief investment officer at UBS Global Wealth Management, wrote in a note. ¡°Growth is slowing and central banks are still raising rates.¡±
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.