Stifel CEO Ron Kruszewski argues the Federal Reserve raising rates by 100 basis points may allow ‘for a soft landing’ on inflation.
An overwhelming majority of business economists believe the U.S. economy is either already in a recession, or is very likely to tip into one next year.
That's according to a new survey published on Monday by the National Association for Business Economics, which shows that more than half of the group's members view a recession as more probable than not. Another 11% think the economy has already entered a downturn.
The survey, which was conducted between Oct. 3-10, highlighted areas of concern for the economists, including a slowdown in demand, an easing in labor market tightness and a slight moderation in price pressures.
It's the latest in a series of grim predictions as the Federal Reserve embarks on one of the fastest courses in history to raise borrowing costs, slow the economy and crush inflation that is still running near a 40-year high.