"Over the past three weeks, more and more economists and bankers have increased their odds that the United States will fall into a recession."
"Americans have taken on record levels of credit card debt... Credit card debt hit $1.21 trillion in the fourth quarter of last year."
Recent assessments by financial experts indicate a growing likelihood of recession in the U.S., primarily attributed to tariffs impacting both domestic prices and exports. Firms such as PIMCO have raised recession odds to 35%. There is concern that the 25% tariffs on steel and aluminum will exacerbate consumer prices and hinder trade with Europe. Notably, American credit card debt has reached a historic high, further stressing consumers' purchasing power and raising concerns about the economy's overall stability as consumer spending is crucial to GDP.
Read at 24/7 Wall St.
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