'We don't see the possibility of a soft landing,' Conning CIO of North American says
U.S. Treasury Secretary Janet Yellen believes the economy is par for the course for a soft landing scenario, according to her recent comments. Amidst the Federal Reserve's December interest rate decision and Wall Street's inflation expectations for 2024, how true can this be for the US economy?
Conning CIO of North America Cindy Beaulieu joins Yahoo Finance Live to discuss how a soft landing would be a "miraculous" turn of events based on how "dislocated" sectors of the economy have been since the COVID-19 pandemic.
"We think that the consumer does really pull back in these next several months, that puts us at the point of a mild, modest recession in the late first quarter, into the second quarter of next year, and that is why we don't see the possibility for a soft landing," Beaulieu explains.
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