Biden says there won't be a recession. Wall Street isn't so sure.
But other barometers of economic health have given analysts more cause for concern, withJPMorgan strategists said last week that there's just a 23% that the US manages to avoid a recession, warning investors to brace for awhere the lagging impact of the Federal Reserve's aggressive interest-rate hikes crushes the economy.
Bank of America's top economist Michael Gapen also said earlier this month that even if the Fed can avoid a so-called"hard landing" as it battles to tame inflation,Well-trusted market indicators are also warning that the economy could slump within months.– a graph depicting the spread between long- and short-dated Treasury bonds that has preceded every recession since 1969 – has been inverted since July 2022, signaling a looming downturn.
But not all of the US's top investment banks believe a recession is inevitable, with some aligning more closely with Biden's view.
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