ECRI’s Achuthan: recession will cause Fed to rethink exit strategy

After Friday’s disappointing jobs report, JP Morgan Fund’s David Kelly and the Economic Cycle Research Institute’s Lakshman Achuthan debate what it means for the economy — are we entering another recession? Achuthan explains that data says yes. Not surprisingly, Kelly–JP Morgan’s head equity strategist–doesn’t see any grounds for concern. Oh and he thinks stocks are still cheap…but then, always does. Never sees recessions or bear markets, so never has to downsize or sell equity holdings. “Don’t worry, be happy” and all with that lovely Irish lilt. Here is a direct link.