Higher interest rates will push the US economy into a recession this year, according to a survey of business and academic economists. The Wall Street Journal reports in a poll that on average, economists put the probability of a recession in the next 12 months at 61%. The good news from the survey is that economists believe the recession will be relatively shallow and short-lived. That sentiment is down markedly from October’s survey of economists. The Journal surveyed 71 economists, although not every economist answered every question.

Source: Wall Street Journal January 15, 2023 23:43 UTC