Famed Economist Gary Shilling Forecasts Stock Plunge, Recession, Rate Cuts Ahead
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Renowned economist Gary Shilling predicts 30% stock market drop, impending recession, and commercial real estate bubble.
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Shilling forecasts Federal Reserve will conquer inflation and slash interest rates in 2023.
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Shilling expects S&P 500 to fall to around 2,900, its lowest since pandemic.
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Shilling says Fed was late addressing inflation, leading to credibility issue.
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Shilling's gloomy outlook raises concerns among investors bracing for potential economic turbulence.