Americans expect a recession. Should you be worried?
By many metrics, the U.S. economy is chugging along at a healthy clip. The latest readings on some key economic indicators are all good — unemployment is low, quarterly profits are high, home construction is up, retail sales continue to grow, and the gross domestic product showed solid growth.
And yet, a recent survey found that 4 in 5 Americans expect a recession this year.
"People are trying to talk themselves into a recession right now," said David Shulman, an economist who advises UCLA's Anderson Forecast.
Even Shulman sees trouble coming, however — just not until 2024. That's because of the eye-popping acceleration in inflation, which could eventually trigger a downturn. Those who live in parts of the country characterized by gasoline-sucking commutes and high housing costs, such as Southern California, may suffer more than others.
