As the market’s downward slide continues following a hawkish Federal Reserve statement Tuesday afternoon, economists have downgraded their forecasts for the economy in 2023.
“While we don’t necessarily have a recession in our forecasts, we do see the risk of a recession increasing,” said Beth Ann Bovino, Chief U.S. Economist for S&P Global Ratings. “We now have it at about 30%; we see the risk go much larger in 2023 when those cumulative rate hikes from the Fed to attack inflation…
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