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Podcast: Money Life with Chuck Jaffe
Episode: For early '24, Schutte expects recession, Lamensdorf a 'scary moment'
Description: Brent Schutte, chief investment strategist at Northwestern Mutual Wealth Management Co., says a recession is likely for 2024, which will create some market pain as it extinguishes "the final embers of inflation which aren't burned out yet, namely wage growth." Schutte expects the market to struggle but notes that conditions are great for fixed income, though he warns against investors hiding in the short-end of the yield curve because rates will start to change next year, and investors who are focused on making the highest yield now will wind up facing reinvestment risk once the yield curve flattens or reverses...