Northwestern Mutual's Schutte: 'The bottom is in'

Money Life with Chuck Jaffe

Brent Schutte, chief investment officer at Northwestern Mutual Wealth Management Co., says that history shows that when inflation has peaked, the stock market has bottomed, and he believes inflation peaked in June, which along with other conditions means that the bottom is in. Still, he notes that the market will be "discomfortable" as the economy moves back and forth from inflation to recession. He does believe that a mild recession is still coming, but that things will look and feel a lot better when these conditions pass more completely. His take on the market bottoming draws some agreement from Leo Leydon, president of Financial Focus Advisory Services, who examines the market's technicals and says that there is the potential for the market to set a bottom and start a climb from here, though he believes the market will likely be sideways and volatile through the end of the year. Also on the show, Kyle Brown, president and chief investment officer at Trinity Capital, explains how double-digit yields are possible -- and relatively safe and stable -- in a rising-rate environment, and talks about how the economic slowdown is impacting the high-growth, venture-backed, early-stage companies that his business-development company finances, and Chuck talks about final expense insurance and why he keeps being pitched this product by cold callers.