The Fed's rate-cut projections are pointing to an imminent recession, economist says

The Fed's rate cut forecasts signal an imminent recession, according to economist David Rosenberg
In past soft landings, the Fed usually cut rates by 75 basis points, but now they forecast cuts of 150 basis points by 2025
The Fed's projected rate cuts are similar to what occurred during past recessions
Stock investors are eagerly awaiting the Fed's pivot to looser policy and rate cuts
Rosenberg warns that defaults are piling up in the perilous leveraged loan market, approaching levels seen in past recessions