Posted 12/6/2023, 11:30:11 PM
Wall Street CEOs Predict Looming US Recession Due to High Inflation and Interest Rate Hikes
- Wall Street CEOs are predicting a US recession due to high inflation, interest rate hikes, and other economic factors
- Inflation has declined from 9% in June 2022 to 3.2% in October 2023 but remains above the Fed's 2% target
- The Fed has hiked interest rates 11 times since March 2022 to combat inflation, sparking recession fears
- Banking executives cite falling consumer spending and rising debt levels among economic warning signs
- Some experts forecast a soft landing with moderating inflation and avoidable recession, while others see downturn ahead