US Already Descending Into Recession: Economist

US Already Descending Into Recession: Economist
Traders work at the New York Stock Exchange (NYSE) at Wall Street in New York on Feb. 24, 2020. Johannes Eisele/AFP via Getty Images
Petr Svab
Petr Svab
reporter
|Updated:
0:00

The U.S. economy is already in the process of entering a recession, according to an economist who specializes in how sentiment affects markets.

Peter Atwater predicted that a large amount of malinvested capital will be wiped out and areas of the economy that have historically been resistant to crises may not be so this time. His research indicates that the economy is under the influence of “confidence cycles” and when consumer sentiment shifts toward the expectation of a recession, the market will actually enter one.

Petr Svab
Petr Svab
reporter
Petr Svab is a reporter covering New York. Previously, he covered national topics including politics, economy, education, and law enforcement.
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