While the new year generally brings out a joyous mood, the waning days of 2022 have instead brought much angst. Although down from its highest levels seen in decades, inflation remains painfully high and is crimping consumer spending.
A Wall Street Journal report suggested that more than two-thirds of economists at top financial institutions expect that the United States will steer into a recession in 2023. These market pundits blame the Fed’s aggressive stance toward controlling inflation through rate hikes for their bleak outlook.
