From a painful credit crunch to a meltdown in the commercial real estate market, here's what top economists are predicting for the coming months
GDP growth slowed more sharply than expected in the first quarter. More and more companies are announcing mass layoffs. Inflation has cooled by remains high, raising new questions about how high the Federal Reserve will lift rates.
The consensus view has zig zagged and now looks like less of a consensus. For what it's worth, here's what three top economists are saying about the US economy. The former chief North American economist at Merrill Lynch predicted the US will tip into a recession by September. He also sees a 20% downside in stocks and a damaging credit crunch.podcast this week, the founder and president of Rosenberg Research offered some other hot takes.
"A recession is a very big call because it's a haircut to national income. It's as if the whole country takes a pay cut. It's not that we take the Lamborghini from 80 down to 20. It's that we go in reverse."
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