The bright prospects of the US economy cast doubts. Amazon founder and one of the world’s wealthiest persons Jeff Bezos belongs to the camp of pessimists. He does not believe that the US economy is able to avoid recession and foresees troubled times ahead. The e-commerce mogul does not specify who exactly will be affected: millionaires or common Americans.
“Yep, the probabilities in this economy tells you to batten down the hatches,” the famous corporate leader cautioned on Twitter. Tesla CEO and the richest man in the world Elon Musk is on the same page with him. Nevertheless, he reckons that the looming recession in the US will be mild. Besides, the billionaire supposes that inflation has already peaked and "is going to drop rapidly." To sum up, most experts warn that a recession is on the horizon in contrast to the official viewpoint of the White House. For example, The Wall Street Journal forecasts that the recession will hit the national economy in the nearest 12 months which will be accompanied by rising unemployment. Analysts at the periodical predict a 63% chance of an economic downturn in the coming 12 months, though the likelihood was never more than 50% two years ago.
Due to a grave recession in the US, the domestic stock market is running the risk of a 20-30% slump. This prediction comes from JPMorgan Chase & Co. CEO Jamie Dimon. He also said he has a gut feeling that the Fed’s official funds rate is likely to increase higher than the level projected by most economists because soaring inflation will hardly ebb away in the near future.
