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Trouble Brewing for the US: Two-Thirds of TradFi Expects a 2023 Recession

The United States economy could be in for an upset. Data from a Wall Street Journal survey revealed financial experts expect the country to face an economic downturn this year.

Over two-thirds of economists at 23 major financial institutions that do business with the Federal Reserve believe the U.S. will have a “shallow” or “mild” recession in 2023. Two of the surveyed institutions predict a recession for the following year.

The research included big names in the financial services sector, such as Barclays PLC, Bank of America Corp., TD Securities and UBS Group AG.

(By SAVANNAH FORTIS)

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