Economists expect US recession in 2020 or 2021: Survey

| | Washington
  • 0

Economists expect US recession in 2020 or 2021: Survey

Tuesday, 20 August 2019 | AFP | Washington

A majority of economists expect a US recession in the next two years, but have pushed back the onset amid Federal Reserve actions, according to a survey released Monday.

The survey came out after President Donald Trump pushed back against talk of a looming recession as a raft of US data reports last week showed a mixed picture on the economy.

“I’m prepared for everything. I don’t think we’re having a recession. We’re doing tremendously well. Our consumers are rich,” Trump told reporters Sunday.

“I gave a tremendous tax cut, and they’re loaded up with money. They’re buying. I saw the Wal-Mart numbers, they were through the roof,” he said. “And most economists actually say that we’re not going to have a recession. But the rest of the world is not doing well like we’re doing.”

His chief economic advisor Larry Kudlow also downplayed talk of a recession.

“I sure don’t see a recession,” he told NBC’s Meet the Press. “Consumers are working at higher wages. They are spending at a rapid pace. They’re actually saving also while they’re spending... So I think actually the second half, the economy’s going to be very good in 2019,” he said.

State Editions

Yogi govt to celebrate 30 mths in office today

19 September 2019 | PNS | Lucknow

Shivpal ready to seek re-election from Jaswantnagar

19 September 2019 | PNS | Lucknow

Rizvi hails SC decision in Ayodhya case

19 September 2019 | PNS | Lucknow

JuH concern over change of counsel by Sunni Waqf Board

19 September 2019 | PNS | Lucknow

Flood situation in UP continues to be grim

19 September 2019 | PNS | Lucknow

BSP, Cong flay govt over Hardoi incident

19 September 2019 | PNS | Lucknow

Sunday Edition

The bare necessities Simple ideas that matter

15 September 2019 | Tim de Ridder | Agenda

Heal self For a better world

15 September 2019 | Sant Rajinder Singh | Agenda

Correct your self-image

15 September 2019 | Ajit Kumar Bishnoi | Agenda

Astroturf | Watch over your karma

15 September 2019 | Bharat Bhushan Padmadeo | Agenda

Talktime | ‘I felt like an actor after doing LSD’

15 September 2019 | MUSBA HASHMI | Sunday Pioneer

Pickle me pink

15 September 2019 | Shalini Saksena | Sunday Pioneer