Inflation is expected to remain high for the next few years as the United States heads towards a recession, according to the latest economic forecast by California State University–Fullerton.
Woods Center for Economic Analysis and Forecasting director Anil Puri and co-director Mira Farka presented the school’s annual forecast Oct. 27 at a presentation co-hosted by the Orange County Business Council held at the Disneyland Hotel in Anaheim.
Farka and Puri said the country was “barreling towards” a recession.
“It is getting harder and harder to see how we avoid a recession within the next 12 months or so,” Farka said.
Anil Puri (L) and Mira Farka. (Courtesy of California State University–Fullerton)
They said inflation—which came in at 8.2 percent in September—is expected to remain at a high level for at least a couple of years….