says there's a 100% chance that the US economy will tip into a recession within a year.
By and large, things aren't too bad right now. But a lot of smart people are saying: Just wait. Things are really going to suck in 2023. A recession would affect the average person in a number of ways, mainly in regards to employment. Even though workers have been enjoying aduring the pandemic as companies have scrambled to fill a labor shortage, the trend is about to reverse. The Fed will further raise interest rates to combat inflation, which will increase costs for businesses. That means they're going to start cutting staff if they haven't already, and lead to.
From Tesla CEO Elon Musk who's predicting a"mild recession" for 18 months to Restoration Hardware CEO Gary Friedman who said"anybody who thinks we're not in a recession is crazy," here's what 10 of the nation's top business leaders are bracing for in 2023: The world's richest man believes"making macroeconomic prognostications is a recipe for disaster" but gave his two cents anyway at a shareholder meeting in July, predicting that the...