Bankrate’s Q1 Economic Indicator Survey: Economists say there’s now a more than 1-in-3 chance of a U.S. recession in the next 12 months

Consumers are still angry about inflation that happened in 2023 and renewed inflation now will likely damage confidence, keep the Fed from lowering rates as they normally would and cause businesses to cut back on investment. And that doesn’t include the loss of exports due to other nations imposing tariffs and import controls on U.S. goods.

— Joel L. Naroff, President at Naroff Economics