{"id":17943,"date":"2022-06-18T23:15:15","date_gmt":"2022-06-18T23:15:15","guid":{"rendered":"https:\/\/dailykashmirpost.com\/eng\/?p=17943"},"modified":"2022-06-18T23:15:15","modified_gmt":"2022-06-18T23:15:15","slug":"us-economy-has-40-chance-of-recession","status":"publish","type":"post","link":"https:\/\/dailykashmirpost.com\/eng\/2022\/06\/18\/us-economy-has-40-chance-of-recession\/","title":{"rendered":"US economy has 40% chance of recession"},"content":{"rendered":"<p><strong class=\"location-names\">NEW YORK: <\/strong>Bank of America (BofA) Securities economists see roughly a 40% chance of a US recession next year, with inflation remaining persistently high.<\/p>\n<p>They expect US gross domestic product (GDP) growth to slow to almost zero by the second half of next year \u201cas the lagged impact of tighter financial conditions cools the economy,\u201d while they see just a modest rebound in growth in 2024, according to a research report on Friday.<\/p>\n<p>\u201cOur worst fears around the Fed have been confirmed: they fell way behind the curve and are now playing a dangerous game of catch up,\u201d Ethan Harris, global economist at BofAS wrote, adding that the firm expects the Fed to hike interest rates to above 4%. They see the risk of a recession for this year as low.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>NEW YORK: Bank of America (BofA) Securities economists see roughly a 40% chance of a US recession next year, with inflation remaining persistently high. They expect US gross domestic product (GDP) growth to slow to almost zero by the second half of next year \u201cas the lagged impact of tighter financial conditions cools the economy,\u201d [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":17944,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[41,40],"tags":[],"class_list":{"0":"post-17943","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-international","8":"category-latest-news"},"_links":{"self":[{"href":"https:\/\/dailykashmirpost.com\/eng\/wp-json\/wp\/v2\/posts\/17943","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dailykashmirpost.com\/eng\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dailykashmirpost.com\/eng\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dailykashmirpost.com\/eng\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dailykashmirpost.com\/eng\/wp-json\/wp\/v2\/comments?post=17943"}],"version-history":[{"count":1,"href":"https:\/\/dailykashmirpost.com\/eng\/wp-json\/wp\/v2\/posts\/17943\/revisions"}],"predecessor-version":[{"id":17945,"href":"https:\/\/dailykashmirpost.com\/eng\/wp-json\/wp\/v2\/posts\/17943\/revisions\/17945"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dailykashmirpost.com\/eng\/wp-json\/wp\/v2\/media\/17944"}],"wp:attachment":[{"href":"https:\/\/dailykashmirpost.com\/eng\/wp-json\/wp\/v2\/media?parent=17943"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dailykashmirpost.com\/eng\/wp-json\/wp\/v2\/categories?post=17943"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dailykashmirpost.com\/eng\/wp-json\/wp\/v2\/tags?post=17943"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}