Adam Lampe, CEO and Co-Founder of Mint Wealth Management, joins Cheddar News to discuss Thursday's CPI data, its effect on the markets in the short and long term, and why he believes we are likely headed toward a recession despite the better-than-expected data.

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Well, you know, the data came in and we've seen this happen a couple times this year and then the following month, you know, data came back negative. So we're cautiously optimistic. You know, the market has gone down 25%. But if you look at growth stocks are down 30%. So, you know, we're very close to that number where the market could turn at any moment and I really do think we're at a good moment in the market, but at the same time, you know, there's a 60% chance that we're going to enter a recession in the next 12 months. And quite frankly, we're going to have to have some more pain in the labor markets, wages are out of control. There's a lot of companies, public companies like ups their wages are up 28%. So that those are some headwinds, some other headwinds that we got is the china situation. They've recently announced this morning on Bloomberg that china is going to be much more, uh, you know, Look at certain cities that they're gonna shut down versus just the whole country so that's one of the headwinds that we have to acknowledge going forward and earnings estimates earlier this year, they were around 10% and now they've gone down to about 6.2%, which I feel is still a little optimistic. But there's certainly some opportunities in this market. I mean Amazon barely missed Their numbers I think by .24, but yet, you know, in the last week they were down 45% for the year. Um I think there's some oversells opportunities in the market and we've seen that last month the market was up 78% in July the market was up 17%. So those are what we call bear market rallies and that's why we have to stick to our investment policy statement. You know, adam, I want to circle back to the Fed in just a moment. But to your point of, you know, some over sell in the market, we've obviously seen some selloff, we're having big games today, but do you think that there are sellers left in this market, you know, how many, what are we looking at here? Well, yeah, there's certainly sellers in the market. I mean we've seen bonds have their worst year in a century and in fact I don't like bond funds if we're gonna own bonds, we want to own individual bonds and in fact every time we come out of a recession a lot of times we can get bonds at the peak inflation number. So I'm excited about bonds. I mean, we might have long term bonds and portfolios that are paying eight or 9% and that is very attractive Now. How should investors here be preparing for that downturn that you mentioned 60% chance of recession? So how would you recommend that investors prepare for that? Well, one of the first things that we can do is max out our retirement plans and if you can do that, that's a layup. That's the easiest way to create wealth. So I would really encourage folks to buy in this dip. You know, if you have a 10 20 year horizon, you're on Easy Street. I had, somebody asked me the other day, well give me the worst case scenario. I said keep on working for two more years Now, American consumers added another $25 billion September according to the Fed. How concerned are you as prices continue to rise here? Well, you know, the fact of the matter is that since 2020 cash balances are up 30% now we're spending down that money. Um, so that's, that's the advantage that we haven't had in past drawdowns as we call, I want to talk about china because you mentioned that earlier and I want to know a little bit more context on that and some of the top geopolitical issues that you're following that could actually have an impact on american uh, investors here. So what are you looking at? Well, we have to be cautious of china, you know, that they are a major player, but there's a certain level of distrust going on there as far as the numbers that they put out. Um, you know, for the first time in my career, I'm hearing rumblings that china may never take over the U. S. Um, and we're seeing a lot of major companies pull out of there for, you know, manufacturing needs and even small company. So, uh, that's, you know, something I do think there's a lot of opportunities in India. Uh, there's, you know, it's one of the largest democratic countries in the world. So, uh, you know, we have to be aware of it, but you also have to be careful. You know, we don't like east eastern europe or europe at all. They're they're they're certainly in a recession right now. And, and with energy costs going up there, they're looking for a tough winter at this point. Adam, thank you so much for your time and your insight this morning. That's Adam lamp Ceo and co founder of Mint wealth management