The US is in a vibepression, but markets and the economy will keep rallying, Schwab economist says
News Source : Business Insider
News Summary
- Americans are feeling gloomier about the state of the economy than just about any other time in history.
- Charles Schwab's head of macro research thinks the vibes don't match reality.
- He believes the market will continue trending upward, citing the resilience of the labor market and corporate earnings as a primary drivers.
- On the corporate front, Gordon doesn't see much on the horizon that will disrupt the earnings strength that's helped carry markets to fresh highs this year."Vibecession" is a term coined by financial commentator Kyla Scanlon that refers to a scenario in which consumers are downbeat even as the economy is doing pretty well.
Recession forecasts have piled up recently, but Charles Schwabs head of macro research thinks the vibes dont match reality.
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