Adam Shapiro Weighs in on the Potential of Recession
INTERVIEW ON THE PRICE OF BUSINESS SHOW, MEDIA PARTNER OF THIS SITE.
Recently Kevin Price, Host of the nationally syndicated Price of Business Show, interviewed Adam Shapiro. Shapiro is an VP of Content for Yieldstreet and former anchor at Yahoo Finance and a regular on the Price of Business.
Price and Shapiro discuss the incredible volatility on Wall Street, the major macroeconomic challenges, and whether the US is heading into a recession.
The Federal Reserve pushed interest rates to historically high levels due to inflation in the early 1980s and a deep recession ensued. A policy mistake by the Fed can set the stage for a recession by restricting business and consumer spending. That’s why fears of a policy mistake have been raised. The market is pricing in a 70% probability of a recession in the next twelve months.
The National Bureau of Economic Research defines a recession as two consecutive quarters of falling GDP. There are three criteria that economists use to determine whether or not a recession is imminent: depth, diffusion, and duration. When these conditions exist, consumers enter a defensive mode and businesses and manufacturers cut back to meet falling orders.
The NBER is a non-profit organization and will convene a panel of academic economists at the beginning of a recession. They will wait anywhere from six to eighteen months before announcing a recession. However, if a recession begins before an official declaration, it’s often too late.
According to YieldStreet.com, “Adam Shapiro has been in the news business since he was 17 years old. He has interviewed Presidents, chased serial killers, covered historic disasters like the tsunami that hit Japan, and picked up a few Emmy Awards along the way. While at FOX Business, he covered the Federal Reserve during the Great Financial Crisis which included covering the collapse of Bernie Madoff’s Ponzi scheme and interviewing Madoff in prison. Adam joined Yieldstreet as the head of content in February and has hit the ground running.”
The Price of Business is one of the longest running shows of its kind in the country and is in markets coast to coast. The Host, Kevin Price, is a multi-award winning author, broadcast journalist, and syndicated columnist. He is Editor at Large for this site. Learn more about the show and its digital partners at www.PriceofBusiness.com.
CHECK OUT ADAM SHAPIRO’S VISITS ON THE PRICE OF BUSINESS SHOW HERE
VISIT SHAPIRO’S PAGE, WHICH INCLUDES HIS ARTICLES, AT YAHOO FINANCE
LISTEN TO THE INTERVIEW IN ITS ENTIRETY HERE
