"Kelly Evans: Textbook Analysis of Current Situation."

CNBC's Kelly Evans argues that the US economy is showing all the signs of a textbook recession, including a peak in housing sales, a decline in new orders for manufactured goods, an inverted yield curve, and a rise in jobless claims. While there are some bright spots, such as soaring construction spending and a massive AI investment cycle, the only way to avoid a "hard landing" would be a sharp Fed pivot to rate cuts, which seems unlikely.