70% of Americans Think a Recession Is Coming: Here's What They Are Doing to Prepare

While experts debate whether a recession will happen or when, most people are already convinced we’re headed for a downturn, a new survey finds.

The biggest recession warning sign, which 88% of respondents pointed to, is high inflation.

Some of those perceptions may lean on how people feel about the economy, rather than hard numbers. While the U.S. economy still has bright spots — including a strong overall job market and rising wages — higher prices have raised Americans' feelings of financial insecurity, according to Matt Schulz, chief credit analyst at LendingTree, which owns MagnifyMoney.

"We expect the headline number, which includes gas and food, to be highly elevated, mainly because gas prices were so elevated in June," White House press secretary Karine Jean-Pierre said during a Monday press briefing.

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