Economists, Biden say recession possible, not inevitable
A group of economists surveyed by the
The odds of a recession have jumped greatly from past surveys. In January, the WSJ's survey placed the odds at 18%. Those chances increased to 28% in April.
While unemployment generally goes up during periods of recession, the experts surveyed believe unemployment will remain below 5%. They expect unemployment to creep up from 3.6% currently to 4.2% at the end of 2023.
During the recession of 2008-09, unemployment more than doubled to 10%.
Although the S&P 500 has lost 24% of its value since the start of the year, President
Economists told the
Recession isn't 'inevitable.' But Biden still must prepare for one.
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