Expert Forecasts Recession in the US Amidst Market Optimism and S&P 500 Surge
10.07.2024 12:30 1 min. read Alexander Stefanov
Henrik Zeberg, a macroeconomist, has reiterated his forecast of an impending recession, citing continued strong performance in key market sectors.
In an interview with Soar Financially on July 7, Zeberg pointed to the S&P 500 index, suggesting it may reach new highs before facing its worst crash since 1929.
Back in January, Zeberg had forecasted the index would climb to 6,100, and recent months have seen significant gains, with the index surpassing 5,500. He highlighted early signs of economic decline in July, noting the business cycle’s gradual downturn and ongoing recession indicators.
Despite recent market spikes, Zeberg believes the peak is yet to come, anticipating a substantial market correction ahead. He remains steadfast in his prediction of a recession by year-end, potentially peaking in September or October.
While acknowledging the economy’s resilience, Zeberg warns of an inevitable downturn and advises caution amid uncertainties over Federal Reserve policies.
Market analysts await the Fed’s next moves, speculating on how interest rate decisions could influence the economy’s trajectory and potentially signal an impending recession, according to recent analyses.
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