The US economy will likely fall into a mild recession by the end of 2022 as the Federal Reserve raises rates to tame prices, according to economists at Nomura Holdings. | Fin24
Nomura warns that financial conditions will tighten further, consumers sentiment is souring, energy and food supply distortions have worsened and the global growth outlook has deteriorated.
Excess savings and consumer balance sheets will help mitigate the speed of economic contraction, they said, but noted that monetary and fiscal policy will be constrained by high inflation. The analysis comes as Treasury Secretary Janet Yellen said Sunday that"unacceptably high" prices are likely to stick with consumers through 2022 and that she expects the US economy to slow down.
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