Lingering macro headwinds continue to mar the U.S. economy’s growth. Moreover, according to renowned investor Michael Burry, the U.S. economy will likely enter a recession this year. In addition, according to Bankrate's Fourth-Quarter Economic Indicator poll, the U.S. economy has a 64% chance of contracting in 2023.
Scott Anderson, chief economist and senior vice president at Bank of the West, said, "The amount of monetary tightening necessary to rebalance the labor market and bring inflation down to target will likely require at least a mild recession by historical standards."
