After a consequential U.S. jobs report showing unemployment at 4.3 percent, both US and global markets are plummeting as mounting recession fears have spooked investors into massive selloffs.
The Big Tech stocks, once bolstering the markets, have begun to flounder, and now the scrutiny falls on Fed Chair Jerome Powell and a much anticipated September interest rate cut. But, has the Federal Reserve acted too slowly…and can it catch up now?
FBN correspondent Lydia Hu speaks with President of Tengler Laffer Investment, Arthur Laffer Jr., about why stock markets across the world are preparing for a recession, the Federal Reserve weighing an “emergency rate cut,” and how recession concerns could impact Americans 2024 election preferences ahead of November.
Photo Credit: AP
