'While we still expect the delayed effects of monetary tightening and tighter credit availability to dampen economic growth, the economy has proven to be more resilient than we anticipated,' Wells Fargo economists said.
, where the Fed induces a deep recession and unemployment jumps significantly, or a soft landing, where the US economy only slows down slightly.
"Unless bank stress gets worse and a credit crunch is revealed, it's harder to see where that hard landing risk is coming from at present," Gapen told Yahoo Finance Live.
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