Jenna: Raymond James, chief Investment officer Larry Adam is forecasting that the FED will have to deal with a very mild recession. He tells Bloomberg how he sees the contraction playing out and why he says don't expect rate cuts any time soon.

Larry: I think they're going to come later. And the reason for that is that I think the Fed is going to stop at this upcoming meeting in May, that will be their last rate hike. And then I think they'll be on hold probably until next year. And one of the reasons why I don't think they're going to have to go more aggressively is that we are calling for a recession, but it's going to be the mildest

Session we've seen here in the United States in a long time. And the way I define that is that it's going to last two quarters, usually it lasts 12, 12 months. And then second, when you look at the amount of growth that's going to be subtracted, it's going to be very minimal. So I don't think it's going to be a severe recession. So I don't think they're going to have to act until we get into next year.