Last Call 7/14/23
CNBC's "Last Call"
00:00
The Inverse Goldilocks of the Economy
The economy is too hot for us to declare that the Fed won't have further action. I don't see a path to 8% growth in the fourth quarter. The cracks are starting to show the consumer balance sheet when you look at credit only growing 7 billion versus an expectation of 20 billion. And so based on where the consumer is, I think we're shaping up for a pretty significant downside surprise.
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