Some economists on Wall Street predict an economic recession in the United States in 2024
According to Jin10's report, some Wall Street economists predict that the United States will experience an economic recession in 2024. The reasons include the depletion of consumer savings, resumption of student loan repayments, and a cooling labor market among other challenges. Consumer spending accounts for approximately 70% of economic activity.
Although the Federal Reserve and most analysts on Wall Street expect a slowdown in US economic growth but still maintain positive growth, forecasters from Citigroup, Deutsche Bank, and Fidelity Securities reiterated their prediction of an economic recession. However, bearish individuals believe that the downturn in the economy will not be as bad as during the COVID-19 pandemic in 2020.
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