Sorry to double up on you with videos here, but I think this one is important given the ECRI’s impressive track record over the years. Lakshman Achuthan, head of ECRI, joined CNBC again this morning to update his economic outlook.
He says the ECRI’s indicators “are the same as they were back in May – down”. He still says this will not be a transitory slowdown and will be persistent and pervasive. But it’s not yet severe enough to make a recession prediction. He says “things have really decelerated” since the spring and that there is “nothing” the government can do at this point to stop the slowing business cycle. He’s substantially more downbeat than I recall him being in recent months….
The full interview is attached: