A strong majority, 74%, of U.S. business economists appear sufficiently concerned about the risks of some of President Donald Trump’s economic policies that they expect a recession in the U.S. by the end of 2021.
The economists surveyed by the National Association for Business Economics, in a report released Monday, mostly didn’t share Trump’s optimistic outlook for the economy, though they generally saw recession coming later than they did in a survey taken in February. Thirty-four percent of the economists surveyed said they believe a slowing economy will tip into recession in 2021. That’s up from 25% in the February survey.
An additional 38% of those polled predicted that recession will occur next year, down slightly from 42% in February. Another 2% of those polled expect a recession to begin this year.
Still, other economists say that there is no strong indication that the economy will take a turn for the worst. We get the two differing perspectives.
With files from the Associated Press.
Guests:
Raul Elizalde, president of Path Financial LLC, a registered investment financial adviser based in Florida; he is also a contributor at Forbes; he tweets @pathfin
Chris Thornberg, founding partner of Beacon Economics and director of the UC Riverside Center for Economic Forecasting and Development