rates may soon be on the horizon. Recessions are officially declared by the National Bureau of Economic Research, which defines them as “a significant decline in economic activity that is spread across the economy and that lasts more than a few months.” A big reason a recession looks imminent is because of inflation, which is showing few signs of slowing down. Banks, including Citigroup, Deloitte and PNC Financial Services, previously predicted a slowdown in 2023, but recent forecasts say a recession could occur in 2022 or earlier in 2023 than formerly expected. Last week, Bank of America followed an earlier forecast by Japanese investment bank Nomura, predicting a “mild” recession in the remaining months of 2022. The outlook is a revision of earlier forecasts that only predicted slowing economic growth. Similarly, Wells Fargo has changed its outlook from an economic “soft landing” to a “mild recession” in the first quarter of 2023 (Winters, 2022).
References:
Barrabi, T. (2022, September 21, 2022). Fed hikes interest rates by a sharp 0.75 points despite recession fears. Retrieved from https://nypost.com/2022/09/21/fed-sharply-hikes-interest-rates- by-0-75-despite-recession-fears/ Lim, S. (2018, November 13). Why start small? The 5 important benefits of starting small. Retrieved from https://stunningmotivation.com/why-start-small/ Winters, M. (2022, July 20). Ugly inflation numbers make a recession more likely in 2022, economist says. Retrieved from https://www.cnbc.com/2022/07/20/economists-chance-of- a-2022-recession-is-rising-with-inflation.html Having the RIGHT models and systems are the keys to success. This in-depth research coming from credible sources plans on giving you nothing but the facts of the situation, and where the
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