US Economists Expect Recession In 2020 Or 2021: Survey

A majority of economists expect a US recession in the next two years, but have pushed back the onset amid Federal Reserve actions, according to a survey released Monday

Washington, (UrduPoint / Pakistan Point News - 19th Aug, 2019 ) :A majority of economists expect a US recession in the next two years, but have pushed back the onset amid Federal Reserve actions, according to a survey released Monday.

The survey came out after President Donald Trump pushed back against talk of a looming recession as a raft of US data reports last week showed a mixed picture on the economy.

"I'm prepared for everything. I don't think we're having a recession. We're doing tremendously well. Our consumers are rich," Trump told reporters Sunday.

"I gave a tremendous tax cut, and they're loaded up with money. They're buying. I saw the Wal-Mart numbers, they were through the roof," he said.

"And most economists actually say that we're not going to have a recession.

But the rest of the world is not doing well like we're doing." His chief economic advisor Larry Kudlow also downplayed talk of a recession.

"I sure don't see a recession," he told NBC's Meet the Press.

"Consumers are working at higher wages. They are spending at a rapid pace. They're actually saving also while they're spending... So I think actually the second half, the economy's going to be very good in 2019," he said.

"We're doing pretty darn well in my judgment. Let's not be afraid of optimism."The National Association for business Economists (NABE) found far fewer experts now think the next recession will start this year compared to a survey in February.