Recession Likely in 2024 Due to High Rates Hurting Consumers and Businesses, Says Yield Curve Discoverer
• Cam Harvey, who discovered the yield curve recession indicator, believes a recession is likely in 2024 due to high rates.
• Consumer spending will be weaker as savings dwindle; delinquencies rising.
• Investment spending went negative in 2023, contributing to weaker growth.
• Risk of a credit squeeze as yield curve hurts banks.
• Weak Chinese economy bad for US growth outlook.