Federal Reserve Chair Jerome Powell last week pushed back when asked whether stagflation posed a threat to the U.S. economy. His successor may face a tougher challenge, as Wall Street forecasters raise their expectations of recession, brought on in part by the Iran war and potential for higher prices.
In recent days, economists have pulled up their risk assessments of a U.S. contraction amid heigh...
The article highlights the potential risks of a prolonged conflict between Iran and the U.S., with economists predicting increased odds of a recession in the near future. However, it is important to consider that these predictions are not certainties and are subject to change depending on geopolitical developments. The article also discusses the impact of higher oil prices on consumer sentiment and spending, but it does not delve into the long-term structural changes that could mitigate or exace...