A sure chance: The United States is expected to enter a recession in the coming year, according to an economic forecast model published today (Tuesday) by the Bloomberg news agency. The publication is a blow to the President of the United States, Joe Biden, and his economic messages ahead of the mid-term elections in the country which are to be held in November the nearest
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The models, developed by economists Anna Wong and Eliza Winger, predicted a 100% probability of a recession in all time frames in the next 12 months, until October 2023, compared to a 65% probability in the aforementioned period in the latest update. The model even showed a 25% possibility Because the recession will hit the US economy sooner, during the next ten months, compared to a 0% chance in the previous test.
US President Joe Biden and US Treasury Secretary Janet Yellen have consistently and for many months rejected the claims that an economic recession is expected in the country. “In my opinion, there will be no recession. If there is, it is expected to occur in low volumes,” the president stated in an interview with the American news network CNN.