Why the Fed may be too late to stop a recession with its rate cuts, according to Northwestern Mutual investment chief

"I think we all think because the Fed is cutting rates, that's the magic elixir that's going to allow us to avoid a recession... the probability of a downturn at over 50%."

"If you look at the past four recessions, the Fed has actually cut before the recession and still had one... It’s difficult to stop economic conditions from weakening once a downward path starts."

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