Markets Insider: Top Economist Steve Hanke Says Stocks Will Drop, a Recession Will Hit, and Inflation Will Sink Below 2% This Year
Article by Theron Mohamed in Markets Insider
Expect the stock market to retreat, a recession to strike, and inflation to drop below 2% by the end of this year, Steve Hanke says.
"As far as the outlook for stocks goes, they remain pricey, and the multiples will come off as the recession starts to bite," the professor of applied economics at Johns Hopkins University told Business Insider this week.
The benchmark S&P 500 index rallied by 24% in 2023 and now trades close to a record high. Stocks are typically valued at ......