Portfolio manager sees 'elevated risk' of US recession

STORY: Stucky says the strength of the labor market and the "Federal Reserve's track record in hiking interest rates and then cutting them without causing some economic disruption doesn't inspire a lot of confidence" in the economy.

"Ten of the last 13 hiking cycles have resulted in some form of a U.S. recession and we just went through the fastest hiking cycle in more than 40 years" said Stucky. "So we're still classifying today's environment as one of elevated risk as it relates to the forward trajectory of the U.S economy."