Source: WSJ Blogs
By Paul Vigna
You’re going to hear this term more and more as the year creeps along: fiscal cliff. Ahead of the Tape columnist Spencer Jakab sat down at the Markets Hub this morning to explain.
There are a number of fiscal provisions that expire at the end of the year, and unless Congress acts (you know the odds of that, right?) the policy expiration alone could tip the economy into recession. This is something that isn’t being priced into the stock market at all, Spencer noted. A resolution is just expected.