The Fed’s 50 basis point rate cut won’t do anything to stop a recession, economist David Rosenberg says

• The Fed’s big rate cut won’t stop a recession, economist David Rosenberg says.
• He’s concerned about weaknesses in housing, commercial construction, and the industrial sector.
• “As was the case in 2007 as the cycle was turning, all of a sudden the data underwent significant revisions,” Rosenberg said.

Economist David Rosenberg is digging in his heels on his call for a recession to hit the US economy.