Harvard s Jason Furman started the year with a 50% probability of a recession within the next one year. He s now recalibrated it to 20%. Mark Zandi, chief economist at Moody s Analytics, reduced his estimate from 50% to 33%. Goldman s Jan Hatzius was an outlier with a 35% probability at the start of the year. He has now pegged it down to just 15%.
The possibility of a recession in the US cannot be ruled out, Yellen said. She added that the slower growth of the US economy was appropriate and normal.
US Treasury Secretary Janet Yellen has repeatedly denied the country could be heading for a major downturn amid the global energy and food crisis. She insisted. 09.12.2022, Sputnik International