The US maintaining strong growth is a fairy tale and the economy doesn't have a 'get out of jail free card' that can help stave off a slowdown, economist David Rosenberg says

• The hope that the US can keep growing robustly is just a "fairy tale," according to economist David Rosenberg.
• In an interview with CNBC, Rosenberg pointed to the Fed's aggressive rate hikes, which haven't been fully felt in the economy.
• "I don't think that there's a 'get out of jail free' card for the economy," he said, rebuffing hopes for a "no landing" scenario.

The hope that the US can keep growing robustly is just a "fairy tale," and the economy isn't going to be saved from a slowdown, according to economist David Rosenberg.