Maybe, just maybe, the U.S. can avoid the recession that for some time now has been just six months away. Gross domestic product rose 1.1% in the first quarter, a cooling from previously, but certainly not in negative turf. Could be the nation will indeed have the “soft landing” that economic optimists have hoped for. Such a development would mean no cruel job losses and no stock market dive.
The stock market’s 2022 downturn—the S&P 500 lost 19.5%—had a lot to do with expectations for a recession that never arrived. A lot of folks nevertheless believe that a recession is coming. Like Michael Gapen, U.S. economist at Bank of America
BAC
Support authors and subscribe to content
This is premium stuff. Subscribe to read the entire article.