Pipe down naysayers, there just isn’t one thing in play for a debilitating U.S. recession that would crush the stock market.

Forex expert Douglas Borthwick of Chapdelaine & Co. says recessions are a concept of volatility, and there’s very little in the way of that right now. Borthwick says the lack of volatility is because central banks are very involved in both economies and the markets.

“For us to really see movement in the economy in terms of large negatives or big positives, you really have to wait until the Federal Reserve’s balance sheet is rolled off,” Borthwick told TheStreet in an interview.

Borthwick said such a hawkish move by the Federal Reserve may be seven years down the road.

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