- Jefferies’ top economist expects a “hard landing” and a year-long recession starting in late 2023.
- The firm expects muted gains for stocks as corporate profits fall 6.5%
- Still, Jefferies is predicting a 5% to 6% increase for the benchmark S&P 500 index.
Wall Street is convinced a recession is coming this year — and Jefferies thinks the downturn will be worse than most onlookers expect.
Jefferies Chief Economist Aneta Markowska believes that the effects of the strong dollar and decade-high interest rates are being underestimated. In a recent note to clients she wrote that the result of these influences will be a recession that starts in the second half of the year and lasts for four quarters.
Support authors and subscribe to content
This is premium stuff. Subscribe to read the entire article.
Login if you have purchased