Moody’s Analytics warned in a new report that the U.S. could face what it called a “slowcession” this year but maintained that the economy will most likely avoid a full-blown downturn.
“Under almost any scenario, the economy is set to have a difficult 2023,” Moody’s chief economist Mark Zandi said in the January report. “But inflation is quickly moderating, and the economy’s fundamentals are sound. With a bit of luck and some reasonably deft policymaking by the Fed, the economy should avoid an outright downturn.”
Fears of a looming recession have been pervasive throughout the last year, as inflation skyrocketed and the Federal Reserve raised interest rates in an effort to rein in the rising prices.
Two-thirds of economists at 23 major financial institutions predicted that a recession would occur this year, according to a recent survey from the Wall…
