Wall Street Breakfast: IMF: U.S. Could Avoid Recession In 2023
Wall Street Breakfast
Seeking Alpha
3.8 • 950 Ratings
🗓️ 31 January 2023
⏱️ 8 minutes
🧾️ Download transcript
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Transcript
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| 0:00.0 | Welcome to Seeking Alpha's Wall Street breakfast, where we cover the top news for investors every morning. |
| 0:07.0 | Good morning. Today is Tuesday, January 31st, and I'm your host Julie Morgan. Our top stories. The U.S. could avoid a recession in |
| 0:15.7 | 2023. The IMF upgrades the latest forecast to say there's a narrow path forward. |
| 0:22.1 | The COVID-19 Public Health Emergency there's a narrow path forward. |
| 0:22.7 | The COVID-19 public health emergency in the United States is ending soon. |
| 0:28.0 | President Biden announced it will end May 11th. |
| 0:30.9 | COVID-19 vaccine makers are the stocks to watch. |
| 0:35.0 | And Alibaba is rumored to be building a new corporate headquarters in Singapore. |
| 0:40.0 | The stock dropped Monday on the report and is down pre-market today. |
| 0:45.1 | We begin with the International Monetary Fund or IMF. |
| 0:49.1 | The IMF sees a narrow path where the US can avoid a recession despite the unemployment rate |
| 0:55.1 | rising to around 5.2% by next year. While concerns about a recession |
| 1:00.6 | continue to worry the markets, Fresh optimism was seen in the latest |
| 1:04.7 | forecasts from the IMF. Resilient demand and spending in the US, strong labor markets, |
| 1:11.1 | China's reopening and the easing of an energy crisis in Europe |
| 1:15.3 | saw the fund upgrade its global economic growth outlook after three cuts in the previous |
| 1:20.4 | year. The IMF says global gross domestic product will likely expand by 2.9% in |
| 1:27.4 | 2023. 0.2 percentage points higher than estimated in October and will likely accelerate to 3.1% in |
| 1:36.2 | 2024. |
| 1:37.5 | IMF's chief economist said the outlook is not worsened this time around, which in itself is good news, but it's not enough. |
| 1:45.0 | He went on to say that we are far from having won the fight against inflation. |
| 1:50.0 | He said we found a few good prints. |
... |
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