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Home Team | PBD Podcast | Ep. 216
PBD Podcast
The Real Recession Is Coming
The US will likely tumble into a mild recession next year and sees unemployment top 5% according to a new report from city global wealth investments. The economy could lose an estimated 2 million jobs in 2023 as a jobless rate climbs to 5.25%. We believe that the Fed rate hikes and shrinking bond portfolio have been stringent enough to cause an economic contraction within 2023. If the Fed does not pause rate hikes until it sees contraction, a deeper recession may ensue.
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