Researchers Predict Strong Chance of U.S. Recession

Ad Feedback

The chances of a recession in the United States are now above 50 percent, according to research from the San Francisco Federal Reserve.

The San Francisco Fed is basing their grim outlook on the European debt crisis.

"Prudence suggests that the fragile state of the U.S. economy would not easily withstand turbulence coming across the Atlantic," economist Travis Berge, research associate Early Elias, and research adviser Oscar Jorda wrote in a paper released Monday.

"A European sovereign debt default may well sink the United States back into recession," Jorda said.

Reuters reports the bank predicts the chance of recession will drop off after the second half of next year.

Log in or create an account to post a comment.  


Are you seeking answers in life? Are you hurting? Are you facing a difficult situation?

Find peace with God, discover more about God or send us your prayer request.

Call The 700 Club Prayer Center at 1 (800) 823-6053, 24 hours a day.

A caring friend will be there to pray with you in your time of need.

CBN News

CBN News is a national/international, nonprofit news organization that provides programming by cable, satellite, and the Internet, 24-hours a day. Follow us on Facebook, Twitter, and Google+.