Is the Risk of Recession Going Up?

Our base line is a soft landing is lord orngolf, and a significant increase in rates. We now have around three % for the fund rate by the end of next year. In that environment, we have growth come down to a two % pace, and then slightly below two%. And that occurs in an environment where more people come into the work forc as colvert fear comes down and financial cushions expire. That gradually reduces the overheating in the labor market. But the risk of involsin ake, of course, goes up ifte environment becomes harder to predict.