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Economics

What bankers say about the coming recession, Fed pivot

Credit Suisse Group, Goldman Sachs Group, HSBC, JPMorgan and Morgan Stanley said they expect the US to avoid recession in 2023 and 2024

Big banks are predicting that an economic downturn is fast approaching.

More than two thirds of the economists at 23 large financial institutions that do business directly with the Federal Reserve are betting the US will have a recession in 2023. Two others are predicting a recession in 2024.

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