US will soon find out it ‘met the technical definition of a recession’: Investment expert
Kevin Mahn, president and chief investment officer of Hennion & Walsh Asset Management, notes that the yield curve remains inverted, which has happened prior to every recession in the country dating back to 1955.
Kevin Mahn, president and chief investment officer of Hennion & Walsh Asset Management, argued Friday that data will soon reveal the United States “met the technical definition of a recession.”
Mahn made the forecast on “Mornings with Maria” less than a week before the Bureau of Economic Analysis releases advance estimates of second quarter gross domestic product (GDP), the broadest measure of goods and services produced across the economy.
A recession refers to a contraction in GDP activity for two consecutive quarters.
It was first revealed in late April that the U.S. economy cooled markedly in the first three months of the year, as snarled supply chains, record-high inflation and labor shortages weighed on…
