The vast majority of economists at 23 large financial institutions surveyed by The Wall Street Journal predict that the United States will fall into the grips of a recession in 2023 and millions of Americans lose their jobs.
More than two-thirds of the nearly two dozen institutions—which include trading firms and investment banks that do business directly with the Federal Reserve—expect the U.S. economy to contract in 2023, according to the report.
Two of the 23 institutions expect the recession to come later—in 2024—while the following five believe the United States will manage to avoid a downturn altogether: Credit Suisse, Goldman Sachs, HSBC, JPMorgan Chase, and Morgan Stanley….