Business Maverick: Forecast for US Recession Within Year Hits 100% in Blow to Biden

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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 latest recession probability models by Bloomberg economists Anna Wong and Eliza Winger forecast a higher recession probability across all timeframes, with the 12-month estimate of a downturn by October 2023 hitting 100%, up from 65% for the comparable period in the previous update.

But tightening financial conditions, persistent inflation and expectations of a hawkish Federal Reserve pressing ahead with rate hikes are raising the risk of a contraction. But inflation, which has hovered near a four-decade high, has been a drag on Democrats’ prospects in an election where polls indicate the economy is voters’ top issue.

 

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Won't bother zelensky..

It's the WAR U.S. must STOP fueling RUSSIA ukraine

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