ABC Economist Warns of Possible Recession in 2025, Even as Inflation Fears Abate

July 11, 2024

Inflation is cooling and interest rates are expected to begin falling in the second half of the year, but other issues persist, Anirban Basu, chief economist for the Associated Builders and Contractors, said in a July 10 midyear economic update webinar presentation. “A lot of people thought recession was inevitable last year. It didn’t happen,” said Basu. “[But] I still believe there’s a chance for a very mild recession in 2025.” Basu points to rising consumer debt and the uncertainty of the upcoming election among the challenges the economy is currently facing.

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