Friday, February 3, 2023
HomeAll Ch00 Ch00 NewsEconomists warn Americans that a severe recession IS coming despite Biden Administration's...

Economists warn Americans that a severe recession IS coming despite Biden Administration’s attempts to play down risk of impending downturn

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eading economists are warning that a recession is coming in the near future, despite the Biden administration’s attempts to downplay the risks. 

Lakshman Achuthan and Anirvan Banerji, cofounders of the Economic Cycle Research Institute — which determines recession dates for 22 global economies — say the United States is on track to face another recession like the one in 2008.

They said in an op-ed for CNN that the Biden administration’s efforts to quash an impending economic downturn have come too late.

And even though the GDP grew in the last quarter of 2022 and the economy added more jobs, Achuthan and Banerji say that will soon change.

 

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