Housing and rates are worrying some economists that a recession is looming. Although Piegza said a recession isn't necessarily imminent -- especially after quarterly growth just came in at the fastest pace in almost four years -- there are signs of waning momentum in the economy. With two more interest rate hikes planned, the Fed could boost short-term rates higher than long-term ones, inverting the so-called yield curve. An inverted yield curve has preceded every recession in modern history. Fed Chairman Jerome Powell has said that he is not concerned about an inverted yield curve.

Source: CNN August 01, 2018 17:37 UTC