The most closely watched recession indicator is telling markets that a downturn won't materialize for another 2 years, Credit Suisse chief stock strategist says
But though a recession could be delayed, more pain is still coming for the economy, Golub said, predicting that the US will grapple with"stagflation lite" in the interim. —a dreaded combo of high inflation and low growth—has typically led to prices and unemployment rising into the double-digits, Golub said. He predicted inflation would hover around 3.5-4% over the next few years, while unemployment hovered around 3%-4%. Economic growth would also likely stay low at around 1%.
"It's kind of like an uninspiring economy. Annoying inflation, but nothing dramatic. Weak economic growth, but nothing that looks like a recession. Not really great for stocks," he said. Other market commentators have forecasted lackluster or dismal returns in stocks this year. On the more bearish end, Morgan Stanley's chief stock strategist warned of a
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