Popular economists believe the United States could already be in recession, contrary to the belief of many CEOs and business leaders that a recession is not coming. Notably, Wall Street giant JPMorgan’s prediction of an increase in the US recession prospects by the end of the year spurred fears in the market.
Economists Say the United States May Be In Recession
While the latest initial jobless claims data provided some relief to the stock and crypto market, US recession fears continue to persist. Bitcoin and Ethereum prices witnessed a 7% and 6% jump in the last few hours respectively, building momentum for the upside after the recent crash.
The initial jobless claims fell more than expected for the week ending August 3. People claiming unemployment benefits in the US fell by 7K to 233K below market expectations of 240K.
Economist David Rosenberg in an interview with Bloomberg said “We are either in a recession or about to confirm one.” He thinks despite the weekly initial jobles
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