Morgan Stanley's Shalett: The economy's next story is an 'earnings recession'

<p>Lisa Shalett, chief investment officer for wealth management at <a href="https://www.morganstanley.com">Morgan Stanley</a> says 'Investors may be relying too much on recent trends to extrapolate corporate earnings resilience' at a time when corporate earnings are not impressive compared to  years past. Meanwhile, slowing economic growth means 'There's still a lot of room for downside in company earnings estimates if we just revert to the mean, forget about hard landing or soft landing." While Shalett thinks a recession is coming, nearly 70 percent of Americans believe it's already here, according to <a href= "https://www.realestatewitch.com/2023-economic-outlook/">a recent survey</a>; research analyst Jaime Dunaway-Seale of <a href= "https://www.listwithclever.com">Clever Real Estate</a> discusses the disconnect between economic numbers and consumer expectations. And in the Market Call, portfolio manager Eric McNew of <a href="https://www.sgiam.com">Summit Global Investments</a> discusses managing risk in current market conditions.</p>