we were headed into a recession“A US recession is effectively certain in the next 12 months in new Bloomberg Economics model projections, a blow to President Joe Biden’s economic messaging ahead of the November midterms,” the article stated.Biden’s Democrats outperformed historical precedents for a president’s first midterm election
“There is no sign of a soft or hard landing in the data. In fact, it all suggests that demand remains strong. Even demand for consumer goods, which was supposed to be declining, seems to be on the uptick. The data this week — including the acceleration of consumer prices — “I looked at these numbers combined with the employment number—half a million jobs in January. We saw an 8.7 percent rise in Social Security benefits because of the cost of living adjustments. And so, people had a lot more money in January. I don’t see that going away,” we told Kudlow. “So, I’m worried that actually the Fed is going to have to go a lot higher than the five and a quarter people have been expecting. I’m looking at five and a half to six percent.
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