Recession Likely This Year, Economists Predict In Survey – WSJ Report
deadline.comHigher interest rates will push the US economy into a recession this year, according to a survey of business and academic economists.
The Wall Street Journal reports in a poll that on average, economists put the probability of a recession in the next 12 months at 61%.
That’s down slightly from 63% in October’s WSJ survey. But both figures are historically high outside actual recessions. Hopes that the Federal Reserve’s manipulation of interest rates could create a “soft landing” for the economy aren’t present for three-quarters of the surveyed.
Even as inflation eases on a month-to-month comparison (while prices are still more than 13% higher than when the Biden administration took office), the economists see the inflation rate falling from 6.5% in December to 3.1% by the end of the year.
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