Crypto News: 6 reasons why a US recession could still happen

Monday, October 2, 2023

6 reasons why a US recession could still happen

Federal Reserve Chair Jerome Powell Photographer: Sarah Silbiger/Bloomberg

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The deal to avoid a government shutdown kicks one risk to the US economy down the road. But, Bloomberg Economics sees plenty of reasons to prepare for a recession instead of the soft landing the Federal Reserve is trying to achieve. The major auto strike, the resumption of student-loan repayments and the potential for another shutdown threat at the end of the year, could easily shave a percentage point off GDP growth in the fourth quarter.

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Even with a looming recession, high interest rates and a tight labor market, small businesses have been opening at record rates over the last few years, surpassing even pre-pandemic levels. Bloomberg's Enda Curran joins to episode to talk about what's behind the trend.

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