The US economy is facing rising risks of a recession, driven by President Trump’s tariff uncertainties and weakening economic data.
Meredith Whitney, CEO of Meredith Whitney Advisory Group, joins Morning Brief hosts Madison Mills and Brad Smith to offer insights.
Recognized for predicting the 2008 financial crisis, Whitney outlines her perspective on the current economic situation.
Whitney emphasizes the potential of home equity in stabilizing the economy, stating, "There is about $20 trillion of tappable equity in homes right now, and homeowners are starting to tap into that.
"So actually home equity loans are growing faster than credit card loans, and that actually is a good thing because home equity loans are cheaper, more efficient than credit card loans," she adds. "I think it provides a lot of struggling homeowners that are cash poor but asset rich in terms of the value of their homes, some much needed relief."
When discussing the broader economic impact, Whitney acknowledges that, despite consumer struggles, there is a potential way forward. "It’s a way out for the economy. So, consumers today are definitely struggling," she says
To watch more expert insights and analysis on the latest market action, check out more Morning Brief here: https://finance.yahoo.com/videos/series/morning-brief/
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