The US economy is in a "rolling recession" and a full-blown downturn looms, Liz Ann Sonders says.
Charles Schwab's chief investment strategist doesn't expect a bunch of interest—rate cuts in 2024.
"The leading indicators have absolutely imploded," Liz Ann Sonders, the chief investment strategist at Charles Schwab, said during a recent episode of "The Meb Faber Show."
"We've never seen this kind of deterioration in leading indicators" outside of an ongoing recession, she added.
Sonders was referring to The Conference Board's Leading Economic Indicators (LEI), which fell for a 16th straight month in July.
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