Economists across Wall Street are capitulating. JPM is one:
- With 3Q23 growth looking solid, we no longer anticipate a recession in this calendar year.
- Recession risks are elevated next year, but we look for modest, sub-par growth.
- If inflation doesn’t continue to ease, more Fed hikes and rising odds of a downturn will come back.
- But waning post-pandemic disruptions and waxing supply-side developments suggest upside risks as well.
BofA is another:
