Economy is gonna crash soon. Expect more layoffs.

Question

There is an 80% chance the U.S. will fall into a recession, according to Johns Hopkins University's Steve Hanke, who blames the Federal Reserve for "exploding" the money supply. The central bank's failure to manage inflation by carefully reducing the amount of money it poured into the economy during the pandemic has seen supply slow too suddenly, says Hanke, who predicts a recession in 2023. His comments come as a September CNBC survey of economists, fund managers and strategists put the chance of the U.S. slipping in recession over the next year at 52%.

SamwiseG · Accepted Answer

A recession does not necessarily mean fewer jobs - there is a crap ton of hiring right now. The recession is likely more white-collar focused so I would also expect some layoff announcements here.

The sad thing is that the recession is virtually 100% Fed induced. And I have a hard time wrapping my head around anyone working in government thinking "this is good for the country."

Interesting to see how deep and how long this one will be. One report said it could take 10 years to get back to 2% inflation. TEN YEARS.

d318hb1vf1v3 · Answer

This is terrible for new grads... gddmt

XMIPFHU0428S · Answer

Remind me again. How are these guys the "experts"?

v4028uh2bf · Answer

Its always doom and gloom this time of year. Worst possible timing

H917orubtnzkHaj · Answer

Even with the holiday season coming up, I think companies are going to struggle with meeting their numbers because they are projecting too high to make up for lost profits all year.

Economy is gonna crash soon. Expect more layoffs.

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