During the “Overtime” segment on Friday’s broadcast of HBO’s “Real Time,” host Bill Maher said that the prospects of avoiding a recession don’t look good and pointed out that people were already losing “a lot of money” in the market.
Financial Times U.S. Editorial Board Chair and Editor-at-Large Gillian Tett responded to a viewer question on rising mortgage rates and monetary policy by the Federal Reserve by stating that the Federal Reserve is in between “a rock and a hard place, in that inflation has been rising. If it doesn’t act, it could get a lot worse. But if it acts too quickly, then it’s going to end up, essentially, tipping –.”
Maher then cut in to ask, “Are we going to have a recession? I mean, I see we were already losing a lot of money in the market, right?”
Tett responded that we have lost money in the market and there will “Probably” be a recession.
Maher then asked, “And how long will it last? Will it be bad, or –?”
Tett answered, “It all depends on what happens, things like the war in Ukraine, elsewhere, China. China’s slowing down, that’s pretty significant for the global economy. It’s not looking great.”
Maher responded to Tett’s assessment that things aren’t looking strong by stating, “No” in agreement.
Follow Ian Hanchett on Twitter @IanHanchett
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