What America’s next recession will look like
A mild downturn may be followed by a painfully prolonged recovery
These days it is hard to turn a corner without bumping into predictions of an American recession. Big banks, prominent economists and former officials are all saying that a downturn is a near certainty as the Federal Reserve wrestles inflation under control. Three-quarters of chief executives of Fortune 500 companies are braced for growth to go negative before the end of 2023. Bond yields and consumer surveys are flashing red. Google searches for “recession” are soaring.
This article appeared in the Finance & economics section of the print edition under the headline “The shape of things to come”
From the June 4th 2022 edition
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