We're in a selective recession, says JPMorgan's Matthew Boss

Matthew Boss, JPMorgan retail analyst, joins 'Closing Bell' to discuss Macy's, the retail earnings picture, and the state of the consumer.

[GenomiMontavani]

Does anyone realize what he’s saying here? 40 TRILLION dollars have flowed up to the richest people, and the low end consumer is facing a recessionary environment where they’re struggling to pay bills and buy food. I don’t think people are able to comprehend just how bad the inequality has gotten in the present moment.

[FairGosling]

I foresee a recession lasting 2-3 years, and if inflation continues to Surge, the Federal Reserve will likely raise interest rates soon. Inflation is causing various issues worldwide, such as food shortages, scarcity of diesel and heating fuel and significant spikes in housing prices leading to a potential financial market crash. This global downturn could have long-lasting repercussions. Given the current inflation rate of approximately 9%, my main worry is how to optimize my savings and retirement fund which has remained stagnant at around $300k yielding almost no gains for quite some time.

[stevenbudovlya]

We are in trouble folks. I work in freight transportation and volume is down at least 20 to 30%. Last year it wad down 20%. People are not spending money. Recession is here. And we will all find out as soon as election is behind us.

[illegalsmirf]

Thank G-d my bowel movements are back to normal

[nzz]

0:38 - You have a consumer at the high end that is being more choiceful. The low end, I do think, is a melting icecube.