The US is in a 'cardboard box recession' that's pointing to a sharp fall in inflation by the end of the year
While recessions are officially declared by the, Kleintop said the economy was currently in a"Cardboard Box Recession," which could bring on a weaker job market and more earnings pressure for corporations. Investors could also see muted stock returns, especially if weakness spreads to other sectors, like services.
"The Cardboard Box Recession may be good news for inflation," Kleintop said, pointing to positive inflation trends in Europe."Europe's latest PMI price index shows inflation may track from the current 6% to near 2% during the next 6 months. Inflation might just continue to recede as fast as it rose."
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