Main Street is convinced that a recession will hit the U.S. economy this year
From "Build Back Better" to food shortages, crippling inflation, and brutal energy costs, in a mere 15 months.
Nice work, Brandon, and the Dunce-o-crats !!!
Main Street is convinced that a recession will hit the U.S. economy this year
POINTS
On Wall Street, more than half of investment and economic professionals think the Fed’s attempt to combat inflation by raising interest rates and running off the balance sheet will eventually cause a recession.
Fed chair Jerome Powell indicated on Wednesday his belief that a “soft” or “soft-ish” landing can be achieved without the most hawkish central bank policy decisions.
But on Main Street, eight in 10 small business owners are convinced the U.S. economy will enter a recession this year, according to the latest CNBC|SurveyMonkey Small Business Survey.
Main Street and Wall Street are often at a distance when it comes to the state of the economy. The likelihood of a recession hitting in 2022 is the latest example. Both camps are bearish, but small business owners are leading the way in negative sentiment — by a notable margin.
Wall Street has been consumed with the Federal Reserve’s efforts to combat the inflation it pegged wrong for too long, and the risk that interest rate hikes will lead to a recession. A survey earlier this week from CNBC found that more than half of economists and investment professionals expect the Fed to fail in its mission to engineer a “soft landing” for the economy.
The stock market breathed a sigh of relief on Wednesday, with stocks surging after Fed chair Jerome Powell said that a more aggressive rate hike of 75 basis points is not being considered, and that the central bank remains convinced it can bring inflation down without crashing the economy..
The market was giving back those brief gains on Thursday, and on Main Street, the central bank messaging was never likely to cause any short-term relief. Eight in ten small business owners expect a recession to occur this year, according to the latest CNBC|SurveyMonkey Small Business Survey for Q2 2022. Inflation remains the top concern for small business owners polled by CNBC and their business outlook is negative. The survey finds few small business owners seeing any bright spots in the current economy: just 6% rate the current state as excellent and 18% as good, while 31% rate it as fair and 44% rate it as poor.
~ “There just isn’t a lot of optimism on Main Street these days,” said Laura Wronski, senior manager of research science at Momentive, which conducts the survey for CNBC.
~ Small business survey results can be influenced by politics, with the community skewing conservative, but economic worries are high among all small business owners. Those who identify as Republicans or lean to the GOP are leading the bearish outlook, with 91% expecting a recession, but among those who are Democrats or lean to the Democratic party, it is still 66% that expect a recession this year.
https://www.cnbc.com/2022/05/05/main...is-coming.html
TRUMP WILL TAKE FORTY STATES...UNLESS THE SAME IDIOTS WHO BROUGHT US THE 2020 DUNCE-O-CRAT IOWA CLUSTERFUCK CONTINUE THEIR SEDITIOUS ACTIVITIES...THEN HE WILL WIN EVEN MORE ..UNLESS THE RED CHINESE AND DNC COLLUDE, USE A PANDEMIC, AND THEN THE DEMOCRATS VIOLATE ARTICLE II OF THE CONSTITUTION, TO FACILLITATE MILLIONS OF ILLEGAL, UNVETTED, MAIL IN BALLOTS IN THE DARK OF NIGHT..
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