Economists Predict Slower Growth and Mild Recession Amid Fed Uncertainty
• Bank of America CEO predicts GDP growth slowing to 1% in 2023 but no negative quarters, calling it a “soft landing”
• Guggenheim Partners CIO foresees a “mild recession” especially impacting small and mid-sized businesses
• Stifel Financial CEO believes Fed will cut rates less than expected and not until later in 2023
• Harvard economist says Fed “doesn’t know what it’s looking for” and will have to “feel out” the path of rate hikes
• Overall predictions range from soft landing to mild recession, but uncertainty about Fed policy and geopolitical events