Wall Street’s repeated recession warnings are beginning to lose their bite. After more than a year of consistent doomsday forecasts, the U.S. economy has remained resilient in the face of stubborn inflation, with the unemployment rate sticking near pre-pandemic lows and GDP growth continuing. The stock market has also rebounded after a bleak 2022, with the S&P surging nearly 16% year to date.
Still, Darrell Cronk, president of Wells Fargo Investment Institute, argues the evidence remains overwhelming that a “recession is at our doorstep.”
