Leon Cooperman Tells CNBC That a Recession Will Hit in 2023

Leon Cooperman, chairman of Omega Advisors, said that he believes oil or the Fed will send the US into a recession sometime in 2023, during live comments on CNBC. Cooperman added that stocks could fall 40% from their peak and the 4100 level on the S&P 500 that he had mentioned in December will be the high for some time.

Furthermore, Cooperman noted that there hasn’t been a recession since 2008 so “we are overdue” however there is too much liquidity in the markets for a recession to happen this year. Cooperman is concerned that we have had a “very, very toxic combination of fiscal monetary policies.”