Anatomy Of A Rolling Recession

Check out the accompanying pdf and chart collection. Executive Summary: In an eight-minute talk at Jackson Hole last week, the Fed chair squawked like a true hawk and obliterated $1.2 trillion in S&P 500 market capitalization. He said bringing inflation down will be painful. He didn’t say how painful. … We don’t see an “official” recession, but a “growth recession” that rolls through economic sectors in succession while still allowing real GDP to grow overall, albeit slowly. … In fact, such a rolling recession is likely underway already. We look at how vulnerable areas of the economy are holding up.