A recession is likely to come in ‘early 2023’ despite a 2.6% GDP increase in the third quarter, says CNBC Economics Editor Jeff Cox. Economic concerns come as inflationary pressures continue and consumers are spending less. “We saw a drop-off in consumer spending, the pace of increase there, falling, of course, as prices continue to rise,” Cox said. NBC News Correspondent Josh Lederman, Jason Furman and Omair Sharif join Meet the Press NOW to discuss the state of the economy. » Subscribe to NBC News: » Watch more NBC video: NBC News Digital is a collection of innovative and powerful news brands that deliver compelling, diverse and engaging news stories. NBC News Digital features NBCNews.com, MSNBC.com, TODAY.com, Nightly News, Meet the Press, Dateline, and the existing apps and digital extensions of these respective properties. We deliver the best in breaking news, live video coverage, original journalism and segments from your favorite NBC News Shows. Connect with NBC News Online! NBC News App: Breaking News Alerts: Visit NBCNews.Com: Find NBC News on Facebook: Follow NBC News on Twitter: #NBCNews #Recession #Economy...(read more)
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Despite a recent report showing GDP growth, many economists and market analysts are predicting an impending recession in early 2023. The report, which showed US GDP growing at an annual rate of 6.4% in the first quarter of 2021, was certainly a positive sign of economic recovery. However, it is important to consider the long-term effects of the pandemic on the economy. One major factor is the growing debt that the US government has incurred due to pandemic relief efforts. While necessary, this debt will need to be paid back in the future, potentially leading to higher taxes and reduced government spending which can have negative effects on the economy. Additionally, the pandemic has caused disruptions in supply chains and labor markets that could persist for years. These disruptions could lead to higher inflation and reduced economic growth. Another factor is the potential for a bubble in the stock market, heavily fueled by low interest rates and stimulus measures. If this bubble were to burst, it could lead to a market crash with cascading effects on the broader economy. Furthermore, there is the potential for geopolitical concerns such as trade wars or military conflicts to disrupt the global economy. While it is important to acknowledge the positive signs of economic recovery, it is equally important to prepare for the possibility of a recession. Businesses and individuals should consider creating contingency plans to weather potential economic storms. In conclusion, the recent GDP growth report is certainly a positive sign, but the looming threat of a recession in 2023 should not be ignored. Preparing for potential economic downturns can help individuals and businesses mitigate the negative effects and emerge stronger on the other side. https://inflationprotection.org/despite-gdp-growth-report-recession-predicted-to-happen-in-early-2023/?feed_id=83945&_unique_id=642a07028bbf2 #Inflation #Retirement #GoldIRA #Wealth #Investing #MeetthePressNOW #NBCNewsNOW #RecessionNews #MeetthePressNOW #NBCNewsNOW
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