JPMorgan: GDP Growth 'Is Like Running on Red Bull'
*By Michael Teich*
President Trump's top economic advisor Larry Kudlow said this week that economic growth could top [4 percent](https://www.cnbc.com/2018/07/18/trump-advisor-kudlow-says-economic-growth-could-top-4percent-for-a-quarter-.html).
And while JPMorgan ETFs global market strategist Samantha Azzarello agrees, she does doubt its sustainability.
"It’s like running on Red Bull, which you can not do forever," she told Cheddar in an interview Thursday.
The economy is getting a jolt from tax cuts, government spending, and high consumption. But trade tensions have weighed on the markets recently, and as Azzarello explained, we're late in the cycleーthe bull market turned 9 years old in March, its longest ever run.
"There's fatigue with this bull market, which is bizarre. We should feel good that the earnings growth is so good," she said.
"If you contrast the earnings data, which is so positive and so strong, with how much the market is up, it literally doesn't make any sense."
For the full segment, [click here.](https://cheddar.com/videos/u-s-economy-running-on-red-bull-but-wont-last-says-market-strategist)
U.S. stocks closed sharply lower on Monday as investors weighed record-high Treasury yields, the ongoing Russia-Ukraine conflict, potential policy moves from the Federal Reserve, and the start of earnings season. Ross Mayfield, investment strategy analyst at Baird, joined Cheddar News' Closing Bell to discuss. "We expected volatility to continue after this recent rally of the last past few weeks. None of the big headwinds have really changed," he said.
Dana Peterson, Chief Economist at the Conference Board, joined Closing Bell to break down March CPI numbers, and discuss how skyrocketing prices are affecting American consumers.
McLaren displayed its all-electric, off-roading racing vehicle, the Odyssey, in from of the New York Stock Exchange on Tuesday. Zak Brown, CEO of McLaren Racing, joined Cheddar News to discuss bringing the heavy-duty vehicle to a new racing series with an emphasis on sustainability — and even gender equity with a male and female team of two drivers required. "This is McLaren's first-ever Odyssey, which is an EV. Looks like an SUV — but not really much of an SUV — that we raced five times around the world in various locations where climate has impacted the world," he said.
According to Mark Zuckerberg, a select number of creators in Meta's Horizon Worlds will now have the option to sell virtual assets and experiences they create to other players for a profit.
Jannese Torres-Rodriguez, Host of the 'Yo Quiero Dinero' podcast, fills us in on what taxpayers can write off and highlights the best uses for tax refunds.
Beth Ann Bovino, the U.S. chief economist at S&P Global Ratings, joined Cheddar to break down the March CPI data and outline the bright spots of consumer spending amid rising costs. She noted that with consumers switching more to services coming out of quarantine rather than purchasing goods, it could create a lessening of demand that will help reduce inflationary pressures going forward, but the Fed will still have to move aggressively. "We expect now that the Fed is going to raise rates about 6 to 7 times — a 50-point basis hike is basically baked in the cake right now," Bovino said. "Could there be a second 50-point basis? Certainly, we wouldn't be surprised."
Catching you up with what you need to know on Apr 12, 2022, with Russia concentrating forces in eastern Ukraine, rising inflation, severe weather from Minnesota to the Gulf Coast, Philadelphia brings back its indoor mask mandate, PG&E pays $55 million for wildfire settlement, and more
