[8/3/23]Many experts predicted a recession last year, but a lot of them are changing their tune this year.
Many economists began forecasting recession last year, but a downturn obviously hasn’t happened yet, with the economy expanding an annualized 2.4% in the second quarter.
And now the experts are starting to change their tune. That includes Bank of America economist Michael Gapen.
“Recent incoming data has made us reassess our prior view that a mild recession in 2024 is the most likely outcome,” he wrote in a commentary.
“Growth over the past three quarters has averaged 2.3%, the unemployment rate has remained near all-time lows,...
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