Allspring's Jacobsen: Yes, recession's coming but 'the level' matters

Brian Jacobsen, senior investment strategist at Allspring Global Investments, says that while the economic picture remains muddled, there has been an earnings recession -- successive quarters of decline -- and there is now potential for recovery. He says in The Big Interview that the Federal Reserve will not be able to put off a recession indefinitely, but that how investors feel about that economic slowdown can depend mostly on what level the decline starts from and gets to, and the Fed can mitigate a lot of the pain if it manages interest rates properly. feel different based on how far activity falls. Matt Fox, president of Ithaca Wealth Management, says that the technical indicators are all flashing go signs and 2023 is setting up strong with the market continuing to make higher lows and higher highs, with more and more securities participating in that rising trend. Fox says that if the market can stay above 4,300 on the Standard and Poor's 500, it will soon be testing levels as high as 4,500. In The NAVigator segment, Will Rhind of GraniteShares says that the peak in inflation has created a more favorable outlook for business-development companies and closed-end funds. Plus, Frank Bonanno, managing director at StoneCastle Cash Management talks about how higher interest rates have made cash a viable, investable asset class again and how the ultra wealthy might better manage and protect cash in insured bank accounts.