The Rest Is Money 82. Stock market turmoil: is it time to panic?
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Aug 8, 2024 Karen Ward, a Chief Market Strategist at JP Morgan and former advisor to an ex-chancellor, joins the discussion on market volatility. She unpacks the recent turmoil in stock markets, particularly the impact on the U.S. from international declines. The conversation shifts to the Federal Reserve's cautious interest rate strategies amid shaky economic indicators. Ward also offers insights on revitalizing the UK economy, emphasizing vocational training and the need for supply-side growth while navigating government debt intricacies against an uncertain political backdrop.
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Tech Company Impact
- US tech companies drove market growth but face uncertainty.
- Their earnings reports weren't as spectacular as hoped, impacting markets.
US Recession Concerns
- A rising US unemployment rate is causing recessionary concerns.
- The US economy's resilience might be overestimated.
Recession Severity
- Recessions aren't always severely damaging.
- The severity, rather than occurrence, matters most, and indicators show it shouldn't be severe.