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John Fetterman "has no work restrictions and can work full duty in public office" as the Democratic Senate candidate recovers from a debilitating stroke, his primary care physician said. Fetterman suffered the stroke in May, just before winning the Democratic nomination to compete for Toomey's seat. The stroke took Fetterman off the campaign trail for three months. Chen's evaluation of Fetterman "must be crushing news for Oz, who has been rooting against John's recovery and staked his entire campaign on it," top Fetterman campaign aide Rebecca Katz said in a statement. He has no work restrictions and can work full duty in public office," Chen said.
Alpha In The Family
  + stars: | 2022-10-12 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAlpha In The FamilyInvesting icon Stan Druckenmiller of Duquesne Family Office sits down with Joe Kernen to talk about today's investment environment.
If you can spare compassion for anyone on Wall Street during these volatile times, please consider the youth. That also meant bankers on Wall Street got fat off the huge fees that came with advising these companies or taking them public. Wall Street is an apprenticeship system; young bankers learn by watching senior bankers do things and by doing all the time-consuming grunt work senior bankers don't want to do. Many of the rules that young Wall Street just learned about how the markets react to events have to be thrown out the window. In the crowd at the conference that day were a bunch of young Wall Streeters who had been invited to attend as a learning experience.
Billionaire investor Stanley Druckenmiller says the US economy is headed for a recession in 2023. Stanley Druckenmiller delivered a bleak message on Wednesday on the fate of the US economy: a recession is very likely sometime next year. "I will be stunned if we don't have a recession in '23," Druckenmiller said at the CNBC Delivering Alpha conference in New York. Given the poor macroeconomic outlook and the Fed's stated willingness to cause damage to the labor market, Druckenmiller said he's not bullish on risk assets like stocks right now. "You can have a period of 15, 20 years, 10 years where the market doesn't go anywhere.
"There will be impacts, there’s correlations ... some market volatility, and then how it weighs in the global growth picture," said Paul Malloy, head of municipals at Vanguard. The wild swings in the pound have ricocheted across currency markets, where volatility was already climbing. According to the widely watched Deutsche Bank Currency Volatility Index , volatility across currencies on Wednesday hit its highest level since the March 2020 COVID-19- induced market meltdown, jumping more than 20% from levels last week. Closely followed indicators of financial stress remain contained. U.S. stock market volatility as measured by the "fear index," the VIX (.VIX), has also climbed in recent days but remains below its 2022 highs.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailStanley Druckenmiller says he'd be 'stunned' if recession doesn't happen in 2023Stanley Druckenmiller, Duquesne Family Office founder, speaks from CNBC's Delivering Alpha conference about his macro economic outlook and what a looming recession in 2023 means for investors.
"Our central case is a hard landing by the end of '23," Druckenmiller said at CNBC's Delivering Alpha Investor Summit in New York City Wednesday. I don't know the timing but certainly by the end of '23. Druckenmiller believes the extraordinary quantitative easing and zero interest rates over the past decade created an asset bubble. "All those factors that cause a bull market, they're not only stopping, they're reversing every one of them," Druckenmiller said. To me, the risk reward of owning assets doesn't make a lot of sense," Druckenmiller said.
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