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Podcast: Money Life with Chuck Jaffe
Episode: Payden's Cleveland: Recession's not coming soon, and rates have peaked
Description: Jeffrey Cleveland, chief economist at Payden & Rygel, says that inflation could begin dropping next year while unemployment remains low, conditions which run counter to the traditional recessionary playbook. He says that the reasons for inflation over the last few years could be unique to the Covid era -- fiscal stimulus, unusual supply chains, a shift in how people spend money moving from services to goods, war in Ukraine and more -- which could set up "a great scenario" and a potential soft landing. He sees the economy side-stepping recession until late next year or 2024, and sees strong potential investment...