Wall Street investors warn of grim year ahead

Wall Street investors warn of grim year ahead

In the Federal Reserve's quiet period before its officials meet to decide their final actions this year, Wall Street watchers are filling the void, warning that the outlook for the U.S. economy and stocks is grim next year.

From Goldman Sachs Group spokesman David Solomon warned that the economy faces bumpy times ahead, JPMorgan Chase s Jamie Dimon grimmer view that this would be a mild to hard recession, and Morgan Stanley Wealth Management s Lisa Shalett, who said corporations are facing a rude awakening on earnings, the messages have become increasingly dire.

Mark Haefele, chief investment officer at UBS Global Wealth Management, wrote in a note, "We do not think the economic conditions for a sustained upturn are yet in place." Central banks are raising rates because growth is slowing and growth is slowing. This could be due to a conflict with your ad blocking or security software. You can add jp and piano.io to your list of allowed sites. If this does not resolve the issue or you are unable to add the domains to your allowlist, please see this FAQ. We humbly apologize for the inconvenience.