Top Wall Street strategist David Rosenberg crushes rosy economic predictions and says ‘no landing’ talk is Wall Street’s ‘biggest hoax’ in years

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David Rosenberg doesn’t buy the latest cheerful economic narrative on Wall Street. The veteran strategist and founder of Rosenberg Research argues a recession is inevitable as the Federal Reserve’s rapid interest rate hikes work to slow the economy.

Recent robust labor market and consumer spending data have led some economists to believe in a “no landing” scenario—in which interest rate hikes don’t spark a recession, economic growth continues, and inflation remains stubborn. But Rosenberg says the Fed will continue to raise rates until inflation “melts,” no matter the consequences.