Americans are going to feel “some pain” because of a slowing economy, the Federal Reserve has warned. But what the Fed won’t do is predict a painful recession.
The forecast is expected to show lots of clouds, some thunder, maybe a touch of rain, and then clearing skies by 2024 or 2025. The Fed has never predicted an outright recession, however, in its relatively brief history of regular forecasts. The 108-year-old central bank only began publishing quarterly forecasts 15 years ago.
“The unemployment rate has never gone up more than a 1/2 point since World War Two without an ensuing recession,” noted Luke Tilley, chief economist at Wilmington Trust and an former Fed economist. The optimal speed of economic growth in the long run is an estimated 1.8%. That’s how fast the U.S. is seen as capable of expanding without stoking high inflation.
jennablan They’re “skeptical”? lol Don’t you mean they’re clueless?
Were in a recession you total pieces of SH111T!
🤦🏽♂️🤣🤦🏽♂️🤣🤦🏽♂️🤣
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