The odds of a recession are 35%, says one of Biden’s favorite economists—but something else is even more likely – By Megan Leonhardt (Fortune) / April 19, 2022
Recession anxiety. It’s catching.
Although many economists and financial experts started the year forecasting that 2022 would be the year that the U.S. put supply-chain issues in the rearview mirror and produced another strong four quarters of economic growth, those hit the wall in February when Russia invaded Ukraine and inflation continued to spiral upward. Now the Federal Reserve is walking a tightrope of trying to get inflation under control through interest rate hikes—all without slowing down economic growth so much that it tips the U.S. into a recession.
Since January 2021, one economist in particular has gotten cited repeatedly by the Biden administration, and he doesn’t even work in the White House. That’s Mark Zandi, Moody’s chief economist, and even he is worried about a recession in the next two years, although that’s not quite the full story.
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