Chief Global Strategist of BCA Research Peter Berezinannounced recession-resistant assets that it believes can protect investors in this period of economic downturn. Berezin is known as one of the crypto critics who called Bitcoin a complete fraud and believed that the crypto asset has no use case.
According to Berezin, essential consumer goods and healthcare are good areas to invest to protect oneself during the economic downturn. Berezin is one of those who believe that products that are important for customers to purchase will perform quite well against optional products.
According to Berezin, the United States is most likely not in a recession yet. According to him, the United States will be in a recession or will become certain only when the National Bureau of Economic Research announces it.
Widespread debate continues over whether the US is in recession since the second fiscal quarter’s GDP grew negatively in consecutive quarters. White House officials and the Fed chairman Jerome PowellThe rest of the economy is doing too well to go into recession, according to . On the other hand, many names argued that the authorities changed the definitions “in their favor”.
Berezin’s view, on the other hand, is much more in line with the White House and shows that the strength of the labor market and unemployment figures point to an economy that is not in recession. Therefore, recession-proof assets may not be needed.
On the other hand, according to Berez, the FED will not be able to make a “soft landing” enough. According to him, there has never been a successful soft landing in the United States. Looking closely at the inflation situation, he believes it will drop to 4%.
Commenting on Fed chair Powell’s announcement of an unusually large rate hike at the September FOMC meeting, Berezin believes this is not true. According to him, the Fed will cut the hike to 50 basis points and eventually to 25 basis points.
You can follow the current price action here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.