Main Street is convinced that a recession will hit the U.S. economy this year

[Grokmaster]

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

[Hawkeye10]

If we are very very lucky it will only be a recession.

That is not likely.

[Hawkeye10]

China has been very sure that sanctions against Russia will hurt America and the West more than they hurt Russia and China.

You should wonder why.

[Guno צְבִי]

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

Getting all excited huh whitey

[Melchizedek = Michael]

China has been very sure that sanctions against Russia will hurt America and the West more than they hurt Russia and China.

You should wonder why.

Cue - I Wonder Why,-Dion and the Belmonts.

[Hawkeye10]

Cue - I Wonder Why,-Dion and the Belmonts.

The West is now let by infants.

They are going to get us hurt.

[Melchizedek = Michael]

The West is now let by infants.

They are going to get us hurt.

Are you saying the west is lead by Top?

[Hawkeye10]

Are you saying the west is lead by Top?

Anything with a question mark gets ignored.

Step up or else step out.

I insist.

[Hawkeye10]

As I wait:

[Melchizedek = Michael]

Anything with a question mark gets ignored.

Step up or else step out.

I insist.

So you're abandoning Top!

[Hawkeye10]

So you're abandoning Top!

You tell me about you, and I tell you about me.....that is how this works.

Feel free to look for me if you ever rise above the intellectual capacity of a third grader...I am not in the habit of slumming it.

[cancel2 2022]

Are you saying the west is lead by Top?

It's led dummkopf!!

[dukkha]

China has been very sure that sanctions against Russia will hurt America and the West more than they hurt Russia and China.
You should wonder why.

Biden and Congress did it to ourselves. China doesn't have to lift a finger

[Melchizedek = Michael]

You tell me about you, and I tell you about me.....that is how this works.

Feel free to look for me if you ever rise above the intellectual capacity of a third grader...I am not in the habit of slumming it.

Drunk already

[Hawkeye10]

Biden and Congress did it to ourselves. China doesn't have to lift a finger

They know nothing of the world, dont want to, and are incapable of thinking things through.

The Chinese are so happy, they know that they have us by the balls now.

Prepare for Impact.