U.S. GDP dropped 1.4% in the first quarter of 2022, and the SPDR S&P 500 ETF Trust (NYSE:SPY) is down 16.3% year-to-date as investors become increasingly concerned about the possibility of a U.S. recession in 2022. However, Bank of America economist Aditya Bhave said this week that underlying economic data suggests U.S. recession risks are "low at the moment."
If the Federal Reserve can successfully get inflation under control in coming months, the recent sell-off in U.S. stocks could turn out to be an excellent long-term buying opportunity.
