The Conference Board's Leading Economic Indicators index fell for the eighth consecutive month, signaling that a recession is looming on the horizon in the U.S.
Slatestone Wealth Chief Market Strategist Kenny Polcari discusses the release of the October job report and how it confirms the Federal Reserve's plan to address inflation on 'Varney & Co.'
"The U.S. LEI fell for an eighth consecutive month, suggesting the economy is possibly in a recession," said Ataman Ozyildirim, senior director of economic research at The Conference Board. as it raises interest rates at the fastest pace in three decades to catch up with runaway inflation. In a troubling development, the Fed's rate hikes have thus far failed to tame inflation: The government reported this month that the consumer price index soared 7.7% in October from the previous year, hovering near a 40-year high.
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