Odds of Recession Rise to 100 Percent Despite Biden’s Claims of a ‘Strong’ Economy: Bloomberg Economics

Started by Epoch-Times-Bot, Oct 17, 2022, 12:15 PM

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Epoch-Times-Bot

Oct 17, 2022, 12:15 PM
Odds of Recession Rise to 100 Percent Despite Biden's Claims of a 'Strong' Economy: Bloomberg Economics

The chances that the U.S. economy will tip into recession at some point in the next 12 months have jumped to 100 percent, according to a model projection from Bloomberg Economics, with the grim forecast standing in sharp contrast to the Biden administration’s upbeat tone on the economy ahead of the midterms.
The updated recession odds, released on Oct. 17, are far higher than the prior Bloomberg Economics estimate of a 65 percent chance for a downturn.
It comes as members of the Biden administration have sought to reassure Americans that the economy is holding up solidly in the face of an aggressive monetary tightening cycle by the Fed, which many economists have blamed for being too late to the inflation fight....

Source: Odds of Recession Rise to 100 Percent Despite Biden's Claims of a 'Strong' Economy: Bloomberg Economics

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