Chief Global Strategist of BCA Research, Peter Berezin, divulged the recession-proof assets that he thinks can safeguard investors during a moment of economic crisis. Berezin is a prominent crypto critic who has referred to Bitcoin as a total scam and said that the cryptocurrency has no practical use.
According to Berezin, investments in consumer staples and healthcare are advantageous for economic protection during a recession. Berezin thinks that things that are essential for people to purchase will do pretty well in comparison to those that are optional.
The United States is most likely not in a recession, according to Berezin. According to him, the United States is only in a recession when the National Bureau of Economic Research acknowledges it.
Since the GDP of the second financial quarter indicated successive quarters of negative growth, there have been extensive arguments as to whether or not the United States is in recession.
The remainder of the economy, according to the White House and Fed head Jerome Powell, is doing much too well to be in a recession. On the other hand, many have accused them of redefining terms to suit their agendas.
The strength of the job market and unemployment rates indicate that the economy is not in a recession, according to Berezin, whose perspective is much more in line with that of the White House. Therefore, recession-resistant assets may not be necessary.
Berezin feels that the Federal Reserve could not engineer a smooth landing. According to him, a successful soft landing has never occurred in the United States. Berezin concurs that the inflation rate will decrease to 4%.
Berezin disagrees with Fed chair Powell’s assertion that September’s FOMC meeting would see an exceptionally substantial interest rate increase. According to him, the Fed will lower the increase to 50 basis points and finally to 25 basis points.
© 2015-2023 Coinposters. All rights reserved!