JPMorgan’s Kelly: Welcome to the ‘Back Roads of the Economy’
July 7, 2020 by Jeff Berman
There is still a long way to go before the United States has a full economic recovery and it is therefore wise for investors to be cautious, not make any bold predictions about what will happen with the economy for now, and maintain balanced portfolios, according to JPMorgan strategists.
“Technically, the recession is actually over” because there was improvement in the economy after April, but “the struggle to recover” remains, David Kelly, the firm’s chief global strategist, told reporters Thursday during a third-quarter “Guide to the Markets” call. And he predicted the recovery will be a slow one.
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