172: The “Rolling Recession” Has a New Target in 2024 w/Liz Ann Sonders

On The Market

BiggerPockets

Education, Investing, News, Business

4.8 • 859 Ratings

🗓️ 28 December 2023

⏱️ 38 minutes

🔗️ Recording | iTunes | RSS

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Summary

Americans have been waiting for a recession to kick in for the past year. With consumer sentiment down and debt piling up, it’s understandable why so many feel like the worst is yet to come. But what if the “hard landing” everyone was so afraid of already happened without us even noticing it? Could a “rolling recession” be why the economy never crashed at once? We’ve got Liz Ann Sonders, Charles Schwab’s Chief Investment Strategist, on the show to explain. In a new report, Liz Ann touches on the one industry that could get hit hardest in 2024, what will happen if the labor market starts to break, and why we aren’t out of the woods yet for another recession. In today’s show, she’ll detail her findings and explain why SO many Americans feel now is an economically dangerous time, even while hard data points to confident consumers. We’ll get Liz Ann’s take on the Fed rate cuts and whether or not they’ll even happen as the Fed eagerly awaits mortgage rate hike effects to finally kick in. Plus, recession indicators to watch in 2024 and why the bond markets could be pointing to something that no one else has been able to see. In This Episode We Cover: The “rolling recession” and why a “hard landing” may have already hit One industry that could get hit HARD in 2024 if the labor market starts to weaken Why we haven’t felt the full effect of the Fed’s rate hikes yet Fed rate cut predictions and how long the Fed could continue to hold high rates Recession indicators and what the bond market tells you that no one else is talking about And So Much More! Links from the Show Find an Agent Find a Lender BiggerPockets Forums BiggerPockets Agent BiggerPockets Bootcamps Join BiggerPockets for FREE On The Market Join the Future of Real Estate Investing with Fundrise Connect with Other Investors in the “On The Market” Forums Subscribe to The “On The Market” YouTube Channel Dave's BiggerPockets Profile Dave's Instagram Why 2023’s “Rolling Recession” is Almost Impossible to Predict BiggerNews: Soft Landing or Hard Recession? How to Build Wealth in Both U.S. Outlook: One Thing Leads to Another Connect with Liz: Liz's Insights Liz's LinkedIn Liz's X/Twitter Click here to listen to the full episode: https://www.biggerpockets.com/blog/on-the-market-172 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Hey, everyone. Welcome to On the Market. I'm your host, Dave Meyer, and we are going to be
0:12.7	ending the year with an absolutely incredible and very special show. Today, we have one of my
0:20.0	personal heroes and role models coming on the show. Her name is
0:25.5	Liz Ann Saunders. She is the chief investment strategist at Charles Schwab and is one of the best
0:32.6	analysts and economists in the entire world. And I promise you you all are going to learn a ton
0:39.2	from our very interesting conversation.
0:42.5	Lizanne and her team at Charles Schwab recently released a report called U.S. Outlook.
0:47.7	One thing leads to another.
0:49.5	It just came out in the last couple of weeks and presents information and their basic outline for what they
0:55.0	think is going to happen in the economy next year. And during our conversation today,
1:01.0	we are going to talk about the report. We get in all sorts of topics like the concept of a
1:06.0	recession or a soft landing and where Liz Ann thinks we fall on that spectrum.
1:12.0	We also talk about mortgage rates and bond yields, consumer spending and sentiment,
1:16.8	and of course, we are going to talk about the Fed and what they've been up to.
1:21.8	But I think in addition to just Liz Ann's opinions about these things,
1:26.8	there's a lot to learn in this episode because
1:28.9	Lizanne does a great job explaining what data you should pay attention to and why, and which
1:35.5	data is just kind of noise that isn't as important for investors like us when we're making
1:41.4	our decisions about our portfolio. So while you're listening to this,
1:45.4	in addition to what she says, also pay attention to the things she's talking about,
1:49.7	why she looks at certain indicators, why she ignores other indicators, because it can really help
1:55.7	you sort through all the noise out there and just focus on the things that are going to help
	...

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