Economists scrambling to justify their recession predictions floated ‘rolling’ or ‘richcession’ theories...but maybe they were just wrong
The economy keeps managing to grow. And so does the belief among some economists that the U.S. might actually achieve an elusive “soft landing.”
The warnings have been sounded for more than a year: A recession is going to hit the United States. If not this quarter, then by next quarter. Or the quarter after that. Or maybe next year.
So is a recession still in sight?
The latest signs suggest maybe not. Despite much higher borrowing costs, thanks to the Federal Reserve’s aggressive streak of interest rate hikes, consumers keep spending, and employers keep hiring. Gas prices have dropped, and grocery prices have leveled off, giving Americans more spending power.
The economy keeps managing to grow. And so does the belief among some economists that the United States might actually achieve an elusive “soft landing,” in which growth slows but households and businesses spend enough to avoid a full-blown recession.
“The U.S. economy is genuinely displaying signs of resilience,” said Gregory Daco, chief economist at EY, a tax and consulting firm. “This is leading many to rightly question whether the long-forecast recession is really inevitable or whether a soft-landing of the economy” is possible.
https://www.google.com/amp/s/fortun...chcession-rolling-recession-soft-landing/amp/
The economy keeps managing to grow. And so does the belief among some economists that the U.S. might actually achieve an elusive “soft landing.”
The warnings have been sounded for more than a year: A recession is going to hit the United States. If not this quarter, then by next quarter. Or the quarter after that. Or maybe next year.
So is a recession still in sight?
The latest signs suggest maybe not. Despite much higher borrowing costs, thanks to the Federal Reserve’s aggressive streak of interest rate hikes, consumers keep spending, and employers keep hiring. Gas prices have dropped, and grocery prices have leveled off, giving Americans more spending power.
The economy keeps managing to grow. And so does the belief among some economists that the United States might actually achieve an elusive “soft landing,” in which growth slows but households and businesses spend enough to avoid a full-blown recession.
“The U.S. economy is genuinely displaying signs of resilience,” said Gregory Daco, chief economist at EY, a tax and consulting firm. “This is leading many to rightly question whether the long-forecast recession is really inevitable or whether a soft-landing of the economy” is possible.
https://www.google.com/amp/s/fortun...chcession-rolling-recession-soft-landing/amp/