Will there be a recession in 2023?

[Amy Raye Rogers]

I keep reading mixed reviews on how deep the recession may be next year. This morning the WSJ speculated the US may not have one at all. Any thoughts?

[Luke Stewart]

To be factual to definitions, we are in a recession right now.. period. A recession by definition is 2 consecutive quarters of negative GDP, which we had first and second quarter. Just because the government tries to say we aren't in a recession by "changing" the definition, it doesn't change the data. The numbers never lie. So that being said, YES this is a recession, whether its a long one or a short one, a bad one or a light one, we must wait and see. But with mass layoffs at huge companies poping up every week, the fed continuing to raise rates and forecasting more rate raises, and the potential for a large number of people being overleveraged in debt... I would say things have to get worse before they get better. Build your nest egg, be ready for a good deal!