“In the near term, unemployment will rise, business...
US Federal Reserve Chairman Jerome Powell has set his eyes on bringing down inflation back down to 2%.
There will be a cost to that.
US unemployment rates, which are at a historical low, may move up. The probability of a recession has risen.
Singapore will not be spared.
In PM Lee Hsien Loong’s May Day rally, he cautioned that there could be a recession within the next two years.
This is not good news for businesses, of course.
Already, the NASDAQ is a whisker away from a 30% decline from its 52-week high, while the S&P 500 is teetering on the edge of a bear market.
Swimming against the tide
Amid the dour outlook, Warren Buffett is buying stocks.
This is not the first time the Oracle of Omaha is swimming against the tide.
In October 2008, he wrote an interesting phrase in his op-ed:
