Financial expert: ‘Concerns are real’ about possible recession
TUCSON, Ariz. (KOLD News 13) - While we are hearing the word “recession” more, one financial expert says it’s a good wake-up call, because one is likely down the road.
“There’s no doubt those concerns are real,” said Michael Treiberg, with Treiberg Wealth Management in Tucson.
“Recessions are natural and normal. They are part of the business cycle. ... There’s certainly one coming,” he said.
Investors got their first glance at that possibility last week with something called the yield curve. Last week, the yield for the 10-year Treasury note briefly fell below that of the 2-year rate.
While Treiberg says the yield curve is a very good predictor, he says it doesn’t mean a recession will happen in the near future. He says a recession could still be a year away, if not more.
“The main thing is to not panic. Stay disciplined,” he said.
Treiberg says use this time to pay down debt, and set aside money in your emergency fund. He says that fund should have six months of day-to-day expenses.
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