According to Michael Lebowitz, partner at Real Investment Advice and RIA Pro, a window has opened, letting in the possibility of a recession. As a portfolio manager of RIA Advisors, he sees some big opportunities in investing from the Fed’s response. Specifically, recent research Lebowitz has done shows that investors tend to underestimate Fed moves, both in raising and in cutting rates, but that the error during cutting cycles is greater. In this conversation with Real Vision's Ed Harrison, he says that the result will be a steepening yield curve and potentially "generational" investment opportunities due to the economic dislocations. Filmed July 1, 2019 in New York.