There has been a debate in the United States of America recently. A significant 66% of Americans worry that there will be a recession coming in 2023. Experts suggest a good chance that a recession is coming, and many Americans are bracing themselves for the impact.
UBS projects a whopping 40% chance of a recession in the next 12 months. Right now, coming up with a financial solution and guidelines is what most people need. A survey indicates that 82% of Americans are worried about being negatively impacted by the possible upcoming recession and the ongoing inflation that is declining their purchasing power.
However, the White House dismissed any notion that a recession had already begun. With a second consecutive quarter of falling gross domestic output, a classic indicator of a recession, the fear of an upcoming downturn only grows. A recent UBS research paper suggests that one way a U.S. downturn can manifest itself is as a consumer-led recession. The Federal Reserve may be causing another scenario by over-tightening. See how the increase in interest rates affects you.