Wednesday, May 31, 2023 11:35:49 AM
Using FRED data; this from the WSJ. When lending standards are raised, 2000, 2008, 2020, a recession follows. This combination of rising interest rates and rising lending standards may be leading us toward a 2023 recession. At best, growth will remain minimal for several months. Also, the Chinese economy is faltering again. With the world's two major economies struggling to grow, it's looking a bit sketchy for a market recovery this summer.
The stock market is a device for transferring money from the impatient to the patient. - WB
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