TopPicks from John De Goey, senior investment advisor and portfolio manager, Wellington-Altus Private Wealth
FOCUS: Personal finance and ETFsThe ongoing discussion about whether or not central banks will pivot is a bit of a red herring. We’ve already met the technical definition of a recession and inflation remains a major challenge that needs to be met head-on. Even a modest reduction in inflation would not be enough to warrant a meaningful deceleration of hawkishness.
Despite this, the dominant narrative is that a recession will either be averted or that it will be mild. In fact, the disconnect between inflation and rates is so extreme that only a severe recession will solve the inflation problem. That’s a message that virtually no one wants to hear. It’s not pretty, but it’s the truth and someone has to step up and say it. It may as well be me. I believe we are in for a very nasty fall.
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