Thoughtful Money with Adam Taggart
Michael Pento: Stocks "Running On Fumes", Risk Of A 30-80% Crash
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Show notes
Federal Reserve Chair Jerome Powell testified in front of Congress this week to defend his current monetary policy.
While we don't have the results of that testimony as of the time of this recording, Powell has recently stated that he is now seeing the kind of disinflationary path for the US economy that he's wanted to.
This of course has Wall Street salivating again that rate cuts are near at hand.
Are they?
For perspective, we're fortunate today to talk with money manager Michael Pento, president of Pento Portfolio Strategies.
Michael warns that we have the most overvalued stock market ever, and the liquidity that drove it to today's extremes is starting to run out.
In his words "We're running on fumes". And stocks are at risk of correcting 30-80% from here.
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#bearmarket #marketcrash #marketcorrection