TokyoTokyo Mon - Fri 10:00-18:00 +81 (366) 701-751
info@mountequitygroup.com

After November CPI report, ex-Treasury economist warns of major ‘shock’ to US economy

Mount Equity Group Tokyo Japan > News > Markets > After November CPI report, ex-Treasury economist warns of major ‘shock’ to US economy

Fox News contributor Liz Peek, former Treasury Department economist David Beckworth, Republican Rep. Jason Smith and Red Apple Foods and United Refining Company CEO John Catsimatidis react to core CPI retreating for the second consecutive month.

Reacting to core inflation retreating for the second consecutive month after a September high, a market panel on “Mornings with Maria” warned the Federal Reserve isn’t looking ahead to how a recession could cause “whiplash” and “shock” to the U.S. economy.

“It’s definitely possible we go into recession,” former Treasury Department economist David Beckworth said on Tuesday. “It would be an incredible whiplash to the economy because the labor market is still doing relatively well. To get really steep job losses would be a drastic, drastic change and it would be a shock.”

Inflation moderated more than expected in November, an early sign that painfully high consumer prices are beginning to…

Read more…