Posted 1/29/2024, 5:14:20 PM
U.S. Economy Grew in 2022 But Slowing Business Activity and Recession Risks Loom Ahead
- U.S. economy grew in 2022 but still faces recession risk due to tight monetary policy and slowing sectors
- Consumer spending remains strong, which could keep powering economic growth
- Business investment and manufacturing have slowed significantly
- Jobs market has been resilient so far, but any shocks could lead to consumer pullback
- Wells Fargo sees 15% odds of a recession this year, expects continued but slower growth