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The Fed is quietly signaling that stocks are overvalued and a recession is almost certain, top economist David Rosenberg says

The Fed is quietly signaling that stocks are overvalued and a recession is almost certain, top economist David Rosenberg says

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Investors sent the Dow to a record high on Wednesday after the Federal Reserve signaled the inflation threat is fading, and it expects to cut interest rates three times in 2024. They may be celebrating too soon, David Rosenberg has warned.

Fed Chair Jerome Powell struck a positive tone after the central bank’s latest meeting. He pointed to the pace of price growth slowing markedly in recent months, unemployment hovering at historic lows, and economic output proving resilient.

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