Economists at Wells Fargo said Wednesday they expect the US to tip into a recession in 2023 after the Federal Reserve hiked interest rates by the biggest amount since 1994 in a bid to choke off inflation.
https://www.businessinsider.in/stock-market/news/wells-fargo-says-the-us-will-fall-into-recession-after-the-fed-delivers-its-biggest-rate-hike-since-1994/articleshow/92253949.cms
You've got to be trolling. Serious question: do you know when "Quantitative Easing" started? Hint, it wasn't 4 years ago, or 5. They've been stretching the rubber band for 14 years now, but as powerful as the FRB is, they can't fight the laws of economics forever. The longer/harder they try, the worse the inevitable snap back to reality will be when those laws reassert themselves. And they will.
Worker bee here. We ARE in a recession. My wallet says so.
@1nvg+1hgkRa79 I'm going to guess you have never had an Economics class or a US History class. Recession is a very real, definable term. We didn't break away from England because we no longer wanted to be serfs. If this is indicative of the knowledge at WF, the bank is completely eff'd.
WF - always late to the party with the wrong answer.
Yep. Stock buybacks always artificially inflate the market and there were a lot of those after the corporate welfare.
lol, yeah, the market has only been inflated for 4 years. Good one.
Main Street has been in a recession for years. Income disparity is worse than it has ever been. Certain people have been working on that since the 80s. They want the time of serfs and lords back in America despite the fact we broke off from England due to that. Those who do not know history are doomed to repeat it.
Wall Street means nothing to the average Joe.
Anyone who knew Wall Street was artificially inflated for four years to make their boy look good saw this coming.
The game is rigged and the everyday worker always pays the price. That’s 99% of us, folks.
Of course, and raises will be miniscule because of the recession fears. The cycle continues.
Who said that from WFC? Recession is, in technical terms, two consectives quarters with decreased GDP. We had a negative GDP for Q1 and we expect to have even a lower GDP for Q2. So by July this year, we will already be in a technical recession.
2023? When this quarters GDP numbers are released, we will see we already are in a recession.
Well, I'd say this board is filled with WF lovers - probably upper mgmt in here trying to offset the truth. Animosity has it's good and bads I guess...
I'm more worried about keeping my job or finding a new one with a possible recession coming than wfh.
I was in a Town Hall yesterday and the presenter refused to use the word “recession”. When someone had the guts to ask about salary adjustments for inflation, he laughed and said “not his year”. Aka “don’t hold your breath”.