NOW Ep79: Is the US headed for recession?

Fears of a US recession have sent all major stock markets tumbling after US jobs market data came in lower than expected for the month of July. In this episode of No Ordinary Wednesday, host Jeremy Maggs asks Investec Chief Economist Annabel Bishop whether the Federal Reserve has left it too late to begin cutting interest rates. They also look at what this all means for the Rand.

Key podcast moments:

00:00 - Intro
01:00 - What's behind the global rout in stock markets?
02:56 - Chances of the Fed declaring an emergency interest rate cut in response to market turmoil
03:47 - Impact of stock market rout on the Rand
05:24 - Investec's latest inflation outlook for South Africa
07:21 - South Africa's GDP outlook
09:56 - Positive news for SA consumers
11:30 - Impact of the two-pot retirement system on consumers
12:57 - Impact of the two-pot retirement system on the economy
14:39 - Positive sentiment from foreign investors for SA bonds and equities
16:51 - Is the private sector going to start investing more in their operations?
18:56 - Gold market update
20:30 - Closing remarks

Hosted by seasoned broadcaster, Jeremy Maggs, the No Ordinary Wednesday podcast unpacks the latest economic, business and political news in South Africa, with an all-star cast of investment and wealth managers, economists and financial planners from Investec. Listen in every second Wednesday for an in-depth look at what's moving markets, shaping the economy, and changing the game for your wallet and your business.

Read more on www.investec.com/now