The consensus view is that the U.S. is likely to tip into recession this year. But not all recessions are created equal, and there is a good chance this downturn could be mild in nature. The contours of economic growth this year will be defined once again by the persistence of elevated inflation and the magnitude of job losses that are likely to occur. The Federal Reserve is expected to keep interest rates elevated throughout most of the year, which should also weigh on economic activity.
The news is not all dire, though, as inflation pressures finally recede and wage growth holds up, suggesting that a quick bounce-back in growth could be in the making as the year progresses. The Economic & Small Business Outlook session will shed light on these topics for the U.S. economy. Additionally, the small business outlook portion of the presentation will provide a sense of the overall health of the small business sector and identify key themes shaping the small business landscape.
Meet Your Presenter: Michael Brown
As principal U.S. economist for Visa Inc., Michael Brown is responsible for overseeing Visa’s analysis and forecasting of the U.S. economy.