Boston Partners' Mullaney: The economy is slowing, recession probability is high

Michael Mullaney, director of global markets research at Boston Partners, says he believes what Federal Reserve Chairman Jerome Powell has been saying about keeping the Fed funds rate elevated for longer, and if the central bank indeed pursues that strategy, the probability of a recession is high towards the end of the year or early in 2024. Mullaney says that for the first time in six years he is looking at increasing bond exposure to help get through what he expects to be a rough year. Also on the show, Tom Lydon, vice chairman of VettaFi, looks at trends on the rise in emerging markets for his ETF of the Week, Ted Rossman of Bankrate.com discusses some alarming trends in consumer credit, and Rob Lutts, president/chief investment officer at Cabot Wealth Management goes looking for good ideas among stocks in the Market Call.