Richard Woolnough: No Looming US Recession

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Richard Woolnough: No Looming US Recession

According to hedge fund manager Richard Woolnough, manager of the $24 billion M&G Optimal Income fund, the United States is not approaching a recession. In fact, he argues the strong labor market is likely to lead the U.S. Federal Reserve to keep edging interest rates up over the near term.

Keep in mind that when Richard Woolnough speaks, people tend to listen very carefully, as he is one if the very few financial professionals who correctly foresaw the 2008 Financial Crisis before it unfolded.

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Recent comments from Richard Woolnough on global economy

Woolnough recently spoke publicly, and he was clear that he did not see a recession on the horizon in the U.S. Woolnough noted: “There is currently a lot of concern regarding the US economy and its ability to withstand the collapsing price of oil and mined commodities, the Chinese slowdown, and the recent quarter (yes, quarter) point rate rise – or given the current market mood, its ability to cope with a doubling of the Fed funds rate! Whilst high yield