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Lee Munson on the Market, Trade and the Possibility of a Recession

Munson told TheStreet that a recession is at least 12 months away considering where interest rates are currently.

As earnings season rolls on, the U.S. stock market keeps climbing higher even as the U.S. and China engage in a trade dispute, and there are no definitive signs of a looming recession.

"Considering where interest rates are now, which is what I look at most, by definition we're at least 12 months away from even a specter of a recession," Portfolio Wealth Advisors Chief Investment Officer Lee Munson told TheStreet.

Even though the U.S. and China are in a tit-for-tat trade spat, these headwinds have been adequately priced into the market, said Munson, noting that the market correction in February was the result of inflation scare, not a trade war.

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"I think the only thing that we're not really pricing in right now is the upside as we see continued earnings going double-digit increases year over year," Munson said.