There’s a reasonable chance of a recession in the U.S. in 2023.
– David Solomon, Chairman and CEO of Goldman Sachs
Fitch expects the U.S. economy to enter genuine recession territory — albeit relatively mild by historical standards — in 2Q23.
The projected recession is quite similar to that of 1990–1991, which followed similarly rapid Fed tightening in 1989–1990.
– Olu Sonola, Head of U.S. Regional Economics at Fitch Ratings