Recession Fears Continue to Surface
May 8, 2023 - The uncertainty in the financial system that began in March continued in April as failures in the banking sector and the subsequent tightening of lending standards increased the odds of a recession, says Chief Global Strategist Rick Pitcairn. The more restrictive lending policies will hamper growth, he says in this month’s Market in Five Charts.
“With this kind of uncertainty in the market, we think investors should stay humble,” Pitcairn says. “Keep a diverse portfolio where you’ll have parts of it working, no matter how things turn out.”