The Last Hurrah?: “Most investors we talk to think the US is already in a recession or that a recession will start by the end of 2022. We think they’re wrong on both counts” begins Dr. Brian Wesbury’s latest blog post.
In an election year, one of the two major parties usually secretly hope that a recession will dampen the other party’s hopes of victory. Despite the well-publicized fears of recession due to the initial reports of slightly negative growth in Quarter 1 and 2, Dr. Wesbury thinks “they will ultimately show positive growth.”
Moreover, he predicts that Q3 will come in at an expansionary 3.0% annual GDP Growth (since he wrote that the number came in at a respectable 2.6%). But could that be the economy’s “Last Hurrah?” Just before writing this, he published another short post analyzing September’s increase in personal income and consumption.
Encouraging trends: ITR Economics’ Dr. Alan Beaulieu shares that “some of leading indicators are now showing an upward turn, an encouraging development amid pessimism in the media etc.”
Also, we hear about inflation daily in the news and for many it’s limited to soundbites and headlines. ITR economics shares a short, useful analysis of “What the Headlines Got Wrong on Inflation.”
