Economic Slowdown Looms As Job Growth Weakens, Recession Predicted for 2023
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Weaker job growth and higher unemployment rate signal loss of momentum in U.S. economy.
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Economist predicts recession in first half of 2023, 2 years after Fed's first rate hike in March 2022.
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Last fiscal stimulus from 2021 extended lags, like housing bubble in 2007 delayed recession.
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Stock and bond markets rallying because wage growth slowing and union labor costs dropping.
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Concerns about wage price spiraling clearing, which is good news for stocks and bonds.