TheRedPillCommunity
Politics • Education
This community platform is for Empowerment, Truth, and Justice!
Interested? Want to learn more about the community?
Economists signal rising risks of US recession

The probability of economic downturn in 2023 is very high despite the signs of easing inflation, experts warn

Higher interest rates will push the US economy into recession in the coming year, The Wall Street Journal reported on Sunday, citing its latest quarterly survey of economists.

According to the report, business and academic economists on average put the probability of a recession in the next 12 months at 61%. The forecast is slightly changed from 63% in October’s survey.

The WSJ report indicated that the Federal Reserve had initially hoped it could bring down inflation with only a slowing in economic growth rather than an outright contraction, an outcome dubbed a “soft landing.” However, three-quarters of respondents polled by the Journal said the Fed wouldn’t achieve a soft landing this year.

The warning comes despite a slightly more optimistic outlook on inflation. The report said that, as measured by the year-over-year change in the consumer-price index, inflation has eased from 9.1% last June to 6.5% in December. Economists expect it to fall to 3.1% by the end of this year and see it ending 2024 at 2.4%.

“While recent inflation prints have shown some progress, a few persistent categories like core services are associated with the historically tight labor market, suggesting that there is still ‘a long way to go’ for the Fed,” Deutsche Bank economists told the WSJ in the survey. “The Fed would stay on its tightening trajectory to restore the rebalance of labor market and price stability, which in our view would engineer a sharp rise in unemployment and recession,” they explained.

Meanwhile, chief economist at EY-Parthenon Greg Daco said that “[w]hile services activity remains robust, the housing sector is tumbling under the weight of elevated mortgage rates and manufacturing activity is stalling–both signaling a broader economic downturn is likely coming.” The expert expects the combination of persistent inflation, tighter financial conditions and weaker global growth will push the US economy into a mild recession in the first half of 2023.

Overall, economists said that a recession can’t be avoided but that they expect it to be relatively shallow and short-lived.

On average, they expect gross domestic product to expand at a 0.1% annual rate in the first quarter of this year and to contract at 0.4% in the second. They see no growth for the third quarter and a 0.6% growth rate for the fourth, according to the report.

https://www.rt.com/business/569931-rising-risks-us-recession/

Interested? Want to learn more about the community?
What else you may like…
Videos
Podcasts
Posts
Larry Johnson - The American Empire is dead!

Larry Johnson - The American Empire is dead!

00:04:30
TheRedPillShorts - Trump is sukk__g of BB Netanyaha
00:00:50
Larry Johnson - we are headed for war with Iran
00:06:27
Geopoli-Tricks: American Empire In Decline(Ft. CIA Chief Analyst Raymond McGovern) Excerpt
Geopoli-Tricks: American Empire In Decline(Ft. CIA Chief Analyst Raymond McGovern) Excerpt
Breaking: Russian Forces hit huge NATO convoy in Lviv,UKR
Breaking: Russian Forces hit huge NATO convoy in Lviv,UKR
Treaty on Strategic Partnership Between Russia and Iran Enters Into Force - Ambassador

Russian Foreign Ministry spokeswoman Maria Zakharova earlier said that the treaty provides for various forms of bilateral cooperation.

The comprehensive strategic partnership agreement between Russia and Iran has entered into force, Iranian Ambassador to Russia Kazem Jalali told Sputnik.

"It is already binding," Jalali said when asked about the date of entry into force of the agreement, as well as whether Iran had notified Russia of the completion of internal procedures.
He recalled that the treaty was ratified by both chambers of the Russian parliament, and Russian President Vladimir Putin signed it. At the same time, the document was ratified by the Iranian parliament, approved by the Guardian Council, and the president issued it as a law.

"Therefore, in both countries it currently has the form of a law and, naturally, has entered into force," Jalali said.
On January 17, Putin and his Iranian counterpart, Masoud Pezeshkian, met in Moscow to sign the Comprehensive Strategic ...

Lavrov Responds to Trump's Ultimatum to Russia
post photo preview
PALESTINE Global coalition charges Israel with genocide, defies US threats to pursue justice

Defying the United States threats, ministers from more than 30 nations have packed Bogotá’s San Carlos Palace to charge the Israeli regime with genocide over its October 2023-present brutal military assault against the Gaza Strip.

The dramatic display of international solidarity saw dozens of high-ranking officials from across the globe convene inside the stately palace on Tuesday, determined to hold the regime accountable for, what they unequivocally called, a “war of genocide.”

The two-day emergency summit, organized under the auspices of The Hague Group -- a coalition co-chaired by Colombia and South Africa -- had representatives, ranging from such countries as Algeria and Brazil to Pakistan and Spain, in attendance.

The participants described the drive as a coordinated effort to stop the Israeli atrocities.

Behind closed doors, ministers and envoys, meanwhile, engaged in intensive sessions aimed at drafting collective measures to pressure the regime -- steps expected to be unveiled by ...

See More
Available on mobile and TV devices
google store google store app store app store
google store google store app tv store app tv store amazon store amazon store roku store roku store
Powered by Locals