HomeNews & PoliticsRelated VideosMore From: CNBC

What Will Cause The Next Recession - Michelle Meyer On Elevated Risks

1169 ratings | 93468 views
Bank of America's Head of U.S. Economics Michelle Meyer predicts a slower economy in 2019 compared to last year. A slowing global economy, especially from China, is likely to have an impact on the United States. But despite the risks being higher, the economic data shows an imminent recession may not be in the cards. She also explains why wages have improved despite an aging population. "The labor market is tight," she says. And it's not just for high-skilled workers, but for lower income jobs as well. Watch the video above to hear more from Bank of America's Head of U.S. Economics Michelle Meyer. » Subscribe to CNBC: http://cnb.cx/SubscribeCNBC About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more. Connect with CNBC News Online Get the latest news: http://www.cnbc.com/ Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC Follow CNBC News on Facebook: http://cnb.cx/LikeCNBC Follow CNBC News on Twitter: http://cnb.cx/FollowCNBC Follow CNBC News on Google+: http://cnb.cx/PlusCNBC Follow CNBC News on Instagram: http://cnb.cx/InstagramCNBC #CNBC #TheNextRecession What Will Cause The Next Recession - Michelle Meyer On Elevated Risks
Category: News & Politics
Get embed code!
Text Comments (300)
colin schabel (2 days ago)
This perky chick is blind a bat
Michael Ziegler (2 days ago)
I keep hearing a meteor is going to hit the earth, but it might not happen yet! The doom and gloom from the anti-Americans is amazing.
Patty Hsieh (6 days ago)
What's disturbing and strange for me is that nothing really makes sense. I don't think individuals are doing well and many are debt ridden but the economy as a whole seems to be doing well (job market, stock market)...
R. B.L. (10 days ago)
Bank of America was bailed out by Public money - that is socialsim Corp socialism The Millenials are paid too little to be able to boost the economy with car and home purchases in fact they are struggling to pay student debt some for more than 10 years while they live in parents basement or their 10-year old beater. so since housing and auto stales are key parts of the economy this is very bad news. (GM closures make sense now) but this is only the tip of the iceburge - baby boomers are due to all retire during the next 12 years but how will that huge Old Age Security payments be funded > this is estimated to be a 70 Trillion dollar unfunded liability - so we are facing an increasing cost during declining revenue - and Trumps Tax cuts has accellerated this problem it will hit a wall of insustainabiility in less than 10 years - but Trump will be like 90 then and will not GAS
R. B.L. (10 days ago)
Sorry kid you are all wet - even with labour shortages US workers are not gaining on wage rates - they are losing, and dont pretent that income inequaltity in the world is anything like the US the GINI index of the UN shows the US wage inequaltiy is an order of magnitude higher than ANY other G20 country so don't lie to us,
nykfeng (20 days ago)
Because jobs for those men were automated away!
ProPaleo (1 month ago)
Can you trust a woman tearing up on camera while giving an analysis on the state of our economy and describing it as good?
candymr2 (1 month ago)
Every time I see this woman, I realize why wall street is so stupid. They have people like her working there
Jim Mon (1 month ago)
Employment is lagging, Retail is lagging, Yield Curve is leading.
Mike L (1 month ago)
I haven’t watch the video yet. I’m sure she starts by saying everything is great for now. All BS!!!!!
ThaiEgho (1 month ago)
I'd enter your next recession Michelle ;)
MASTER BLASTER (1 month ago)
She crying because her liberal leader Hillary Clinton lost - she really saying I'm going to talk down the economy so that a female socialist like Elizabeth Warren can win in 2020 - which all means Trump wins in a landslide in 2020 and the Dow goes to 30,000
Akbar, Allard Freichmann (1 month ago)
Corruption and corporate greed.
B Patrick (1 month ago)
After watching this millennial, "head of BofA's economics", I'm thinking it's time to pull my savings and go with another bank. While she was twirling at Boston at the age of 20, my family took out a loan with Countrywide. BofA's crown jewel. BofA's Countrywide was the, "lender" that fueled the great recession feeding their loans to Leaman Bros. This gal running her jaws about economics is similar to a tree sloth heckling slow horses at the track.
Malibu 340 (1 month ago)
The data is always behind by months. If your out in the real world like most of us you already know we’re headed for recession. I wonder if she has read the comments section? These guys are so far detached.
Eric Wedin (1 month ago)
How about all different debt bubbles? How about new QE and most likely lowered interest rates? How about tweeked unemployment rates?
Verne Fits (1 month ago)
Michelle is cute 💕💕
MrPzoe (1 month ago)
Can you explain why all these big companies closing down. If the economy so great.
Threat Assessment (1 month ago)
Men between 25- 54 have drastically decreased from the workforce as women have slightly increased And THEY don’t know why 🤣
Threat Assessment (1 month ago)
Another spinstress daughter of a rabbi running things they don’t understand !
Norbert Chong (1 month ago)
Honda have just shut a factory in the UK....... so things not going good in UK.
Alex Silva (1 month ago)
Ford has just announced that will shut down one factory here in Brazil as well. The things are bad everywhere.
Clara Morgan (1 month ago)
I have make alot of BTC from fabulous hackers these guys are saving souls.
The Maestro (1 month ago)
She's cute
Travis Li - Rufus (1 month ago)
Never trust woman, she lies so much, no wonder she has her job
uawsux (1 month ago)
We are going to inflate everything forever we're going to inflate this is why the stock market knows it's going to go up or going to inflate real estate prices this is why all these corporations are buying all the real estate and rental prices have doubled they know it but this also means gold has to go up but it only goes up 4% you will only go up the rate of inflation Pension funds were like this because bonds and stock stabilize all stabilized because of regulated inflation butt inflation is inflation you're either way the purchasing power subtly quietly destroying purchasing power for those on fixed incomes welfare all those illegal aliens on EBT cards
uawsux (1 month ago)
Why would you even listen to anybody from Bank of America or Wells Fargo just because Warren Buffett likes them doesn't mean they're a good investment
Briana Lopez (1 month ago)
she is clearly from the Lehman Brothers era
Da C. (1 month ago)
What will cause the next recession? Probably the far left obstructing our government.
UnhingedBecauseLucid (1 month ago)
5:11 - 5:46 Yes... clearly. [cough] Moral hazard ? Clearly that too though...
No DAD Not Tonight (1 month ago)
Is she crying
Ryan Shaeffer (1 month ago)
massive corporate debt, massive student debt, massive national debt, massive credit card debt, unemployment bottomed heading up, i mean what could go wrong???
Ryan Shaeffer (1 month ago)
its all fake economy built on massive debt, what can go wrong right?? how about when layoff pickup and people start defaulting! dont listen to these people saying "oh we see a slight slowdown but everything is good right now" its not slow downs pick up steam, get the F out now!
Ryan Shaeffer (1 month ago)
the economy growth is all debt with credit cards and loans, this is a joke, people are dumb! its artificially inflated even worse then 2008!
Michel van de Pol (1 month ago)
bimbo has no cliue what she is talking about
candymr2 (1 month ago)
Exactly. Her boss is probably trying to bang her, because she didnt get hired for her intelligence
G6 Browser (1 month ago)
hey babe want to be my girlfriend
Seadog95 (1 month ago)
Id smash
junior Kamwa (1 month ago)
Talking too fast. shhhs
oterenceo (1 month ago)
She is so hot!
Douglas Thompson (1 month ago)
I want her to laugh maniacally and say "I'll get you my little pretty"!!!
hotneo7 (1 month ago)
Baby Boomers is going to cause the next Great Depression: what made them rich their whole life they are now cashing out for retirement...housing...stocks...everything.
TheGooglySmoog (1 month ago)
I greatly doubt her credentials. She is not wearing a robe or a wizard hat.
Andi (1 month ago)
I have to admit it, I clicked cause the girl was good lookin. Did I follow her embellished analysis?...meh.
antonio bortoni (1 month ago)
Once you work at the top, you don't want to go back to be a slave of life.
jayanta biswas (1 month ago)
She looks gorgeous
Matt Woodruff (1 month ago)
The world economy is being held up by a crutch. and she is completely ignoring this glaring fact. Too much debt! Everyone is leverage to the hilt. But it's
ForestNinjaZero (1 month ago)
Illiteracy, and persistent efforts of criminal partners of the U.S. Military to cover the history of their malicious practices will cause the recession. It has already begun, and you will have lost your land entirely before there will be any possibility of recovery.
SayNoToIdiots (1 month ago)
What she is saying contradicts Trump. Trump thinks China slowdown wouldn't affect US.
Mitch Prime (1 month ago)
Well informed, intelligent thoughts on the state of the economy. Thanks Michelle.
LostMySauce (1 month ago)
It’s still a little weird that a lot of people would sell off late last year. It’s been proven time and time again that holding is better in the long term. A lot of us saw Q4 2018 as a sale
Cheok CG (1 month ago)
Print~
Trilhas e Travessias (1 month ago)
Sure...
Burton L (1 month ago)
Well what do you know? Trump actually delivered jobs.
alex r. (1 day ago)
Burton L Lol and he is about to lose them all and then some. They are going to blame your boy too.
Robby Khullar (1 month ago)
She looks like a junkie
benz806 (1 month ago)
This chick knows nothing. She was probably in high school in 2008.
g0neplatinum (1 month ago)
is the trade war a disguise for something else going on we should all know?
panchito1993eljc (1 month ago)
orange man bad, orange man bad...
Louis Andrews Smith (1 month ago)
You want to know why this recession is going to be bad, and what will cause it? Look at Quantitative Easing and asset market inflation (why CPI has stayed the same). Look at the debt corporations and individuals have and where on earth interest rates are going to go from here. And then look at Trump, where this will all be blamed.
Lost Thoughts (1 month ago)
We believe you 😉
Dan Woods (1 month ago)
The unparalleled wealthy greed and ignorance will be the cause of the fall of America....we could help save America by getting rid of Trump and taxing the wealthy 70%....that would help
Aloe Vera (1 month ago)
If the recession hits she won’t be able to fix those forehead wrinkles
ecoRfan (1 month ago)
My issue will be similar to the previous meltdown: housing. A recession for those who don't know is a period where the economy does not grow. The core problem will be young people unable to afford homeownership. This will be due to student loan debts, and will impact even people with decent-paying career jobs. A huge chunk of the nation's economy is dependent on homeownership with its products sold. New cars and trucks have gotten prohibitively expensive which will also hurt the auto industry. This in addition to the limited money that young people will be able to spend on consumer products will create a slowdown, and in turn, a shrinking of the economy for awhile. And that's just the US.
Joe (1 month ago)
I wanna bang
Austrian Economics (1 month ago)
Everything. It’s called the everything bubble for a reason. The job market is irrelevant, tens in trillions of debt will eventually become unmanageable. It will collapse at some point, and with it, the dollar and the U.S. and global economy.
Peter Francis (1 month ago)
China housing bubble
Charles Nicklestein (1 month ago)
AOC. Cortez will cause the next recession. That is all.
Commando Master (1 month ago)
The real takeaways would be interest rates are going up, house prices/stock prices are going down, and cash will be better off in a savings account than on the market.
Parimal , (1 month ago)
Non sense video. She was with Lehman Bros in 2008, LoL. Zero credibility to what she says.
ecoRfan (1 month ago)
Shady milf
Николай Помещенко (1 month ago)
I think China prepare a bubble 4 us. And i believe USA do best.
ohplezz (1 month ago)
Its all about the fed.
Sonny August (1 month ago)
They look like tears but they are scars.
Rigor Mortise (1 month ago)
Public Relations at its best.
TJ Marx (1 month ago)
lol. None of the slowing in China is about the "trade war", China has far bigger things it's dealing with than the USA that only represents a tiny fraction of it's exports.
TheGr8stManEvr (1 month ago)
DE-REG-U-LA-TION.
Adlin Ling (1 month ago)
When a neighbor loses his Job it's recession. When you lose yours, it's depression.
Tomas T (1 month ago)
*blink* *blink* *blink*
Webetripin 4725 (1 month ago)
Bespoke Tranche Opportunity
AverageLuke (1 month ago)
Finally, a video that doesn't shout off baseless claims.., like how trump is somehow going to be the cause of it.
Chris Choir (1 month ago)
How would this women know? what are her credentials? did she predict the 08 recession?
ecoRfan (1 month ago)
Considering she worked for Lehman Brothers and now BoA, that just screams shadiness.
omgitsmario7 (1 month ago)
corporate greed will destroy the economy, not a lot of people want to consume also
Zayn Zahir (1 month ago)
So the economy is good and the markets are just overreacting?
Johnny lor (1 month ago)
What will cause the next recession? Stupidity and greed.
nnaenae (1 month ago)
Why does she say the central bank’s policies which led to higher income inequality were “clearly unintended consequences?” Ummm they have enough smart people there to have been able to factor that in. Seems like it was designed that way. Not just an oopsie. They’re clearly not taking any steps to counteract their “mistakes” 😏
Frank Farroghi (1 month ago)
More like depression bitches
Frank Farroghi (1 month ago)
Whats with all these mass layoffs then???
Jasper Paolo (1 month ago)
Never trust a Bank of America economist
IMDOC78 (1 month ago)
Jasper Paolo BoA started granting subprime loans late last year. Major red flag!
hunterxg (1 month ago)
Checked her LinkedIn: US Economist - 2005 to sept. 2008 - Lehman Brothers lol..
vbr20 (21 days ago)
+michael oles Yeah but sexist people need a reason to be sexist, but I doubt she minds, trolls here though must be super successful.
Dung Nguyen (23 days ago)
michael oles as an economist, she should’ve seen the red flag... kinda like what she’s doing in this video (or not doing depending on your point of view).
Carlo B (1 month ago)
Sam Bee emphasis on the first 4 ltrs
TurtleTrader (1 month ago)
LOL ... that is pretty funny! TY :)
michael oles (1 month ago)
Banking crisis that brought down her company had nothing to with her job whats so ever....It is obvious you do not know what economists do.
lppoqql (1 month ago)
She is cute, but wrong, if you at the data months before each recession there is always a employment peak then a sudden drop off. We will see that soon if the trade war dont come to a good end.
Han Zhang (24 days ago)
Yeah, that's because recession happens after you get over production of goods and services there is no consumption for. And how do you get that? By excess labor. However, her point is that you cannot be in recession while it (labor participation rate) is rising, it can only happen after it has peaked and begins to decline. It cannot happen while it is still rising.
richard alvarado (1 month ago)
that's a good observation.....especially about the 2008 crash. i don't know about the 1929 one because its hard to get data about that one. BTW easy on the eyes...LOL!!
Huevo Duro702 (1 month ago)
Bring back the gold standard!
Youtube Employee (1 month ago)
Lol why
Eddie Bravo (1 month ago)
Oh great, massive deflation, boy sign me up. Not.
Rigor Mortise (1 month ago)
Gold and Silver can not be manipulated by Wall Street, so that'll never happen
Gabriel Manzano Nieves (1 month ago)
Concentration of wealth was an "unintended consequence"?
Tony Rodriguez (1 month ago)
How much of all the shopping and influx into businesses from credit cards aka fake revenue? How many of those jobs actually are able to provide for the person to live with their own studio apartment? Lots of this data is missing a whole lot of other data to even mean something,
Wakka Flakka (1 month ago)
Same as every recssion before. De-regulation of banks, excessive non-investment spending, and people living outside of their means.
rodrigo moura (1 month ago)
What about the debt ? 21 Trillion is completely okay ?
JERRY RICHARDSON (1 month ago)
From what I have read and observed the level of private sector debt is is a better indicator of a coming recession than public debt.
Luigi Daniele (1 month ago)
+Alex 22 trillion and 9 billion now
Alex (1 month ago)
22 trillion now
BuzzFeedRight (1 month ago)
What the US answer to any recession pray for war 🇪🇨.
The Uberman (1 month ago)
We can't afford war anymore.
BuzzFeedRight (1 month ago)
We're at least two at most four years away from a recession consumer lead growth in the US from millennials is what has kept the US out of recession.
M ichael (1 month ago)
What’s with the fear mongering
DeRun Ren (1 month ago)
she has a witch nose
Jon Dwyer (1 month ago)
why are you like this
Sheryl Chapman (1 month ago)
Does this mean real estate prices will come down anytime soon?
Dutch Master (1 month ago)
Jobs at.... Chipotle !
J Alejo (1 month ago)
Tax cuts? Lol funny
Sethutheguru (1 month ago)
Titles like this are more of a click bait than any thing.anyways,economist after economist keep talking about economic cycles and the indicators etc.there r so many punters who come on business news channels and keep betting on a recession every year.this has been more common since 2015 and thanks to the internet it gets lot of clicks.the simplest way to look at a recession is when the 'clickers' are clueless and r hit by a tsunami otherwise its just a painful slowdown of economic adjustment to new realities with billionaires coming in and swooping the shares sold by millions of commoners.
digiryde (1 month ago)
What tax cut? My taxes went up. I am spending less now.
Stanley Tolle (1 month ago)
Had the same problem with a ex wife. She started buying all sorts of stuff with some credit cards she was given. Like this tax cut, it was not money in our pocket but dept over our heads. What sort divorce are u planing and how long do you think it will take for you to pay it off?
Random Things (1 month ago)
Big Red looks like we agree, taxes went down not up, Democrats just push the false idea that they went up
John Harn (1 month ago)
+Big Red there were a lot of other changes such as the limitation in SALT deductions to $10,000 which have made people's MAGI increase. Taxes are way more complex then just marginal rates, sorry to break it to you.
Big Red (1 month ago)
Random Things Nobody’s taxes went up as all rates dropped, why do you idiots try to lie?
John Harn (1 month ago)
+Random Things you are aware the tax "cuts" hit the upper middle class the hardest right. Basically everyone else saw tax cuts though.