As Central Banks Tighten to Tackle Inflation, Global Recession Looms

Expectations for the U. S. economy in the fourth quarter of 2022 point to slim growth. Consensus anticipates the nation’s GDP growth rate to remain at around 0.4% well into third quarter of 2023. According to Dr. Ray Perryman of the Perryman Group, the solid job growth in recent months (August unemployment stood at 3.7%) suggests that recessionary fears are overblown, even considering the two-quarter decline in GDP (much of which is attributable to rising exports, which indicates progress on supply chain issues).