The economic naysayers have already made plenty of gloomy economic forecasts. For instance, JPMorgan Chase CEO Jamie Dimon predicts that an economic hurricane is coming. "The question is whether it will be a downpour or a terrible storm." Tesla's boss Elon Musk has a "super bad feeling" about the economy. Companies are cutting their earnings forecasts. Apart from that, the prophets of gloom and doom point out that the US is going through an energy and inflation crisis. Apart from that, stocks have been constantly flirting with a bear market.
Many analysts are blaming the Fed for the current dire situation and its ineffective approach to rein in inflation. They assume that the time is up to take the right steps to prevent the economic doldrums.
However, some analysts express their thoughts in less elegant words. "The economy may be heading down the toilet, and we can only pray no one flushes it", David Goldman, the assistant managing editor for CNN Business, said.
