Biden Now Facing Economic Collapse

According to a prominent bi-annual survey of economists, a majority of them anticipate that the U.S. economy will enter a recession later this year.

According to Breitbart, The National Association for Business Economics (NABE) Policy Survey revealed that 58% of economists anticipate that the economy will commence a recession later this year.

As per the survey, the majority (24%) of economists predicted that the recession would start in the third quarter of this year. Additionally, 16% of economists anticipated the recession to begin in the upcoming second quarter, starting at the end of this week with the onset of April. Furthermore, 13% of economists forecasted that the recession would begin in the fourth quarter of this year.

In the recent survey, 5% of economists stated their belief that the economy is currently in a recession, indicating a substantial decrease from the August survey where 19% of economists held this view.

In the same survey, 12% of economists predicted that a recession would commence in the first six months of the following year. Conversely, 22% of economists believed that there would be no recession until the second half of next year or beyond.

Julia Coronado, President and Founder of MacroPolicy Perspectives LLC and NABE President, disclosed that over 50% of NABE Policy Survey participants anticipate a recession occurring at some stage in 2023.

There is a general consensus that meeting the Federal Reserve’s 2% inflation target would require a recession. The majority of economists, comprising 69% of the surveyed group, expressed low confidence in the Fed’s ability to reduce inflation to the target within the next two years without causing a recession. This figure encompasses 43% who reported being “not very confident” and 26% who expressed “not at all confident.”