What's the meaning of the ongoing financial downturn? How long will it last, and who will it affect most? A panel of experts on financial markets joined Roundtable to take on these questions and more.
Jon Najarian argues that the U.S. has already entered a recession. In his view, the Fed's recent increase of interest rates will exacerbate the problem.
"We're going to struggle because a lot of the companies that have been big borrowers are going to stop borrowing. They're going to start cutting jobs. Not only are we in it, but it's about to get worse," he says.
"The good news is that it's going to be shallow. The bad news is that it's going to be long."
Tony Delgado of Latino Wall Street attributes the downturn to an increase of currency in circulation.
"The amount of money printing that went on since the pandemic started is historical. That causes a domino effect in the global economy. We weren't printing us dollars. We were printing world dollars because it's the world currency at the moment," he says.
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"Essentially we have less money in the consumer's pockets."
Watch the full discussion below:
Tony Delgado, Founder, Latino Wall Street
Leon Lamle, Founder, Lamle Ventures
Jon Najarian, Co-Host, CNBC Halftime Report