Big Banks Predict Recession, Fed Pivot in 2023

More than two-thirds of surveyed economists are expecting an economic downturn in 2023

More than two-thirds of economists at 23 major financial institutions expect the U.S. to have a downturn this year

The inverted Treasury yield curve is hitting extreme new levels. But paradoxically, it might be suggesting that investors are both more worried about a recession and less worried. WSJ’s Dion Rabouin explains. Illustration: David FangMore than two-thirds of the economists at 23 large financial institutions that do business directly with the Federal Reserve are betting the U.S. will have a recession in 2023. Two others are predicting a recession in 2024.

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