America’s ‘Technical Recession’ Was Really Just the Beginning

America’s ‘Technical Recession’ Was Really Just the Beginning
A trader on the floor of the New York Stock Exchange (NYSE) on June 27, 2022. Spencer Platt/Getty Images
Jeffrey Snider
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Commentary 

In a matter of months, the future hasn’t just dimmed, it has gone black. Think back to the end of last year, or even the first few months of this year. The U.S. economy’s “technical recession” was a complete surprise. Even though gasoline and food prices had been pushed higher along with those for far too many goods, everyone from policymakers to politicians to corporate managers was still highly optimistic.

Jeffrey Snider
Jeffrey Snider
Author
Jeff Snider is Chief Strategist for Atlas Financial and co-host of the popular Eurodollar University podcast. Jeff is one of the foremost experts on the global monetary system, specifically the Eurodollar reserve currency system and its grossly misunderstood intricacies and inner workings, in particular repo/securities lending markets.
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