Falling average hours worked is leading consumer demand lower while housing inflation is keeping central banks hawkish for longer than in past cycles. Nasty combo.

Chris Harvey, Wells Fargo Securities head of equity strategy, and Frances Donald, Manulife Investment Management chief economist and strategist, join ‘The Exchange’ to discuss the case for a recession in the back half of this year, and the rationale behind the Fed’s pause. Here is a direct video link.