Economist King Banaian says he doesn’t believe the U.S. will fall into a recession in 2022 but says 2023 is still a possibility:
“If there’s a recession, the recession is going to be because we have to hit the brakes much harder to prevent runaway inflation than we would normally do. And that could trigger a recession. But I still think at this moment, we’re at least nine, nine months to a year away from that.”
Inflation continues to cause increases in products across the board. Some of the bigger ticket items include new houses and vehicles.