[11/30/22]Rising inflation and interest rates, along with several other factors, will push the economy over the edge, says Beth Ann Bovino.
Many economists, including luminaries Larry Summers and Nouriel Roubini, anticipate a recession next year.
And so does Beth Ann Bovino, chief U.S. economist at S&P Global Ratings.
“Continued high prices through most of next year and the Federal Reserve's decision to aggressively raise interest rates … are leading households to pull back on spending and businesses to cut costs in response to slowing demand,” she wrote in a commentary.
“We continue to expect the U.S. will fall into recession in 2023. We expect GDP growth to weaken to negative 0.1% in...
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