The Fed's big rate cut won't stop a recession, economist David Rosenberg says.
Rosenberg's bearish call comes one day after the Federal Reserve delivered a jumbo 50 basis point interest rate cut, the Fed's first rate cut since 2020.
AdvertisementBut Rosenberg isn't backing down, likening 2024 to 2007, right before the economy slowed and entered a painful recession.
He added: "Half the country is in recession right now when we apply data science to the commentary."
AdvertisementAs for the soaring stock market, Rosenberg says investors should heed the warning signs coming out of the bond market.
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