US to enter a recession in 2023 – Danske Bank UnitedStates Fed Growth Inflation Banks
for the US economy appears challenging. Economists at Danske Bank expect growth to continue moderating.“The US economy continues to face rapid inflation stemming from aggregate demand remaining too high. The Fed will continue to tighten financial conditions and push the US economy towards a recession starting in Q2 2023. We expect US GDP to contract by 0.2% in 2023 followed by a gradual recovery of 0.5% in 2024.
“Risks remain tilted towards inflation pressures turning out more persistent than expected, and thus we expect the Fed to take a cautious approach in eventually easing its monetary policy stance. We expect theFunds rate to rise to 5.00-5.25% in February 2023, and look for four 25 bps cuts only in 2024.”
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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