Why The Oncoming Recession Is Going To Be Worse Than You Think

Why The Oncoming Recession Is Going To Be Worse Than You Think

There’s growing consensus that the economy is heading toward or is in a recession. However, some believe that the forecasted downturn will be mild. I’m not convinced. Here’s why.

Some experts are embracing the notion of a soft landing, the belief that recent interest rate hikes will translate into a modest decline in growth. However, such claims lack evidence. The history of the Federal Reserve and its monetary management doesn’t lend much credence to any soft-landing optimism.

The latest proof of that comes from economists Alex Domash and Lawrence Summers, who addressed these claims in a recent paper analyzing rate hikes since 1955. The scholars found there has never been a time in which high nominal wage growth and very low unemployment weren’t followed by

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