- 3% of respondents think a recession in the American economy would never happen.
- Elon Musk recently predicted, the next recession might last up to 18 months.
The findings of a study on the status of the US economy performed by Stifel Financial Corp. (NYSE: SF) last week were released. Between July 18 and August 5, the financial services firm with its headquarters in St. Louis polled 70 corporate executives, business owners, and investors in private equity.
The company noted that the two main perceived challenges to business today are inflation and the tight labor market in the United States, noting just 3% of people believe the American economy would completely avoid a recession. Furthermore, according to the financial services company, 53% of respondents anticipate that inflation will be a problem for the next two quarters to a year, with another 43% anticipating elevated costs to linger for even longer.
Future In-Depth View of Recession
Jamie Dimon, the CEO of JPMorgan Chase, said last week that something worse than a recession may be on the horizon. Elon Musk, CEO of Tesla, recently stated that although inflation has peaked, the next 18 months may see a recession. Making macroeconomic predictions is a recipe for disaster, but according to Musk, a recession is imminent since inflation has reached its pinnacle. He predicts a pretty light recession.
The United States will enter a recession this year, according to a forecast from Bank of America. This month, President Joe Biden stated that there was no inflation in the American economy in July. His declaration came after his government attempted to change the formal definition of a recession.
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