"We expect the continued tightening of credit conditions, slowing bank lending and shrinking money supply will eventually lead to a downward turn in business investment and hiring, eventually leading consumers to pull back on spending, coinciding with a recession," the ESR Group said in its report.
In fact, these economists said consumer spending has been unsustainable. Since January 2020, real personal consumption has increased 8.5%, while real disposable personal income has increased by only 2.7%, the ESR Group reported.
Be prepared.
The Federal Government is dancin', but they want you to pay the band.
This is obviously not Biden and the Democrats fault. The Biden economy is booming... Just ask the bias, gaslighting mainstream media.
In fact, these economists said consumer spending has been unsustainable. Since January 2020, real personal consumption has increased 8.5%, while real disposable personal income has increased by only 2.7%, the ESR Group reported.
Recession expected by end of 2023: Fannie Mae
A recession is likely in 2023, Fannie Mae forecasted. And the Fed may continue to raise interest rates after its June pause, despite projections that inflation will continue to cool.
www.foxbusiness.com
Be prepared.
The Federal Government is dancin', but they want you to pay the band.
This is obviously not Biden and the Democrats fault. The Biden economy is booming... Just ask the bias, gaslighting mainstream media.