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Podcast: The Schaftlein Report
Episode: Schaftlein Report | Economy contracts 0.9% in 2nd Quarter
Description: 1) Following (1.5%) in 1st Quarter, the debate is on. Is the USA in or approaching a Recession? 1A) Fed hikes rates 75 basis points. Another 100 basis point increases is expected by year end in effort to tame Inflation 2) The Federal Reserve has a $9T balance sheet. It has only been reduced by $16B since June. 2A) the 2 year not is yielding 20 basis points above the 10 year note signaling a slow down ahead and possible recession. 3) Sen. Manchin and Schumer reach agreement on slimmed down energy, climate, prescription drug and tax hike deal....