Market expert Dominick Tavella said that consumers will pull back on spending, which could lead to higher unemployment during an interview on 'Mornings with Maria.'
Lebenthal Global Advisors President Dominick Tavella discusses risk of a recession on ‘Mornings with Maria.’Tuesday, market expert Dominick Tavella said that the economy is ‘definitively' slowing down and that consumers are pulling back on spending.what it said it's going to do, which is to slow the economy down. It's speaking to a real turnover to our clients recently where they were having 10, 15 people bidding on houses.
Now it's down to two or three people bidding on houses. So it's clearly starting to have an effect in the economy. The economy's definitively slowing down, whether it's the Fed or higher energy prices. The consumers are starting to pull back on spending. And whether we like it or not, that means unemployment numbers might start to go up. We're seeing companies start to announce layoffs.
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