Why Bill Gross is really worried Americans might run out of 2024 cash
It seems like we’ve been hearing forever that the world is on the precipice of a major recession.
One misconception I think people have, however — and one that drives them to make poor investing decisions (I’ve been there, believe me) — is that big economic moves provide immediate consequences.
On the contrary, it often takes more time than you think for the effects to trickle down and really start having a big impact.
Consider rising interest rates.
The purpose of Jerome Powell and the Fed pumping rates to their highest level in 20 years was to cool the economy and stanch skyrocketing inflation.
And while there are early signs that inflation is finally settling into a more reasonable pace, the job market remains strong and the stock market has been on a scorching hot run for about 4 months now.
Where is the recession we were all promised?
Well, if you believe one of the biggest names on Wall Street, it could be just around the corner.
The bond king reveals a timeline
Bill Gross is a billionaire investor and bond market expert.
