As Americans grow concerned that the U.S. economy could tip into a full-blown recession, one expert says evidence suggests that U.S. corporations will soon be hammered by a profit recession of their own as many have been unable to pass soaring input costs along to inflation-weary consumers and will have to scale back their earnings forecasts, pressuring stocks.
In a recent interview on the Wealthion program, MacroMavens founder and economist Stephanie Pomboy explained that a measure that she relies on as a proxy for corporate profit margins has plunged to lows not seen since the mid-1970s.
