Pimco's Fels Says U.S. Economy Has Entered 'Window of Weakness'

The video discusses the current economic slowdown, highlighting the impact on consumer spending due to factors like real wage pressure and inflation. It examines the retail sector's challenges, particularly Home Depot, and anticipates insights from Lowe's. Despite a window of weakness, a moderate recovery is expected next year due to Fed rate cuts and reduced global uncertainties, such as a potential US-China trade deal and a less likely hard Brexit. However, recession risks remain elevated, with the economy at stall speed, raising doubts about recovery.

What are the expected impacts of the Fed's rate cuts on the economy?

Discuss the implications of the elevated recession risk mentioned in the text.