Posted 1/22/2024, 3:18:35 AM
Economist Forecasts 2024 Recession After Aggressive Fed Rate Hikes Alter Predictions
- Economist Campbell Harvey originally predicted no recession, but now forecasts economic slowdown in 2024 due to aggressive Fed rate hikes
- Harvey known for linking inverted yield curve to future recessions; curve inverted in 2022 signaling downturn
- Attributes forecast change to Fed raising rates 11 times, altering economic landscape more than anticipated
- Aligns with warnings of 2024 recession from other economists like Gundlach and Schiff
- Some economists still dismiss recession fears, predict stock surge like BlackRock's Rick Rieder