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Is it a ‘richcession’? Or a ‘rolling recession’? Or maybe no recession at all?

Posted on AllSides June 28th, 2023
From The Left
AP Photo/Nam Y. Huh

The warnings have been sounded for more than a year: A recession is going to hit the United States. If not this quarter, then by next quarter. Or the quarter after that. Or maybe next year.

So is a recession still in sight?

The latest signs suggest maybe not. Despite much higher borrowing costs, thanks to the Federal Reserve’s aggressive streak of interest rate hikes, consumers keep spending, and employers keep hiring. Gas prices have dropped, and grocery prices have leveled off, giving Americans more spending power.

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