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Andrew Yang Podcast

Economy in Turmoil, or Much Ado About Nothing?

Andrew Yang Podcast

Andrew Yang & Audacy

Society & Culture

4.83.2K Ratings

🗓️ 16 January 2023

⏱️ 46 minutes

🧾️ Download transcript

Summary

Gunjan Banerji, writer for the Wall Street Journal and CNBC, answers your most pressing economic questions: Are we really headed for a recession in 2023? What does the collapse of crypto and Big Tech mean? And will we finally stop hearing about the supply chain this year?

Watch this episode on YouTube: https://youtu.be/OCWzFUFO0Jg

Follow Gunjan Banerji: https://twitter.com/gunjanjs | https://wsj.com/news/author/gunjan-banerji

Follow Andrew Yang: https://twitter.com/andrewyang | https://forwardparty.com

Transcript

Click on a timestamp to play from that location

0:00.0

One thing that strikes me is that even for professional investors, economists, forecasters,

0:05.5

it's really, really, really hard to forecast and time a recession correctly.

0:11.4

So I think that's something all investors should really keep in mind,

0:14.6

is that even some of the best Wall Street strategists, economists, if you keep hearing about a recession,

0:19.9

sure maybe we'll fall into a recession in the first half of this year.

0:22.7

But maybe we won't, you know, no one got 2022, right?

0:25.9

So I think it's important to take all of these forecasts with a grain of salt,

0:31.3

because it's really hard to time the market and kind of position perfectly for these things.

0:58.0

Drill to have on the podcast today, leads writer for the Wall Street Journal,

1:03.3

CNBC correspondent, award-winning journalist, Goodjid Banerjee.

1:07.4

Welcome, Goodjid.

1:09.2

Thank you for having me, Andrew. I'm really excited.

1:11.8

I'm excited too, because I have wanted to pick someone's smart spring

1:16.6

about the markets in the economy of 2023, ever since the year got started,

1:21.3

which I guess isn't that long.

1:23.0

But I made a series of predictions at the beginning of the year,

1:26.7

and one of them was that I thought that there would be an economic recession in 2023.

1:31.6

And I based that on the fact that I had a bunch of conversations with various investors and CES,

1:37.8

and let me say that their mood could best be described as lousy.

1:41.5

Or something like those lines.

1:44.0

And I put that into my predictions in part, because I wanted to send a message to people,

1:48.3

it's like, look, this might not be the year of mammoth risk-taking.

...

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