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Podcast: Money Life with Chuck Jaffe
Episode: MacroTides' Welsh: Recession isn't a sure thing, but continued slowing is
Description: Jim Welsh, macro strategist at Smart Portfolios and the author of MacroTides, says he still believes the market can rally during the last half of the year, but he says investors have to respect the current downtrend, which is likely to get worse before any bounceback. Welsh notes that consumer savings should help absorb inflation, business spending is up, demand is higher and he believes the economy has enough internal strength to avoid recession so long as the Federal Reserve doesn't have to raise rates above 2.5 percent. If rates rise higher, Welsh says it could lead to a recession...